* RES 4: 0.8474 High Jan 20 and a key resistance * RES 3: 0.8420 76.4% retracement of the Jan 20 - F...
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The recent move down in EURJPY appears corrective. The recovery from Monday’s low highlights a potential short-term reversal and the end of the corrective cycle. A continuation higher would open 164.90, the Dec 30 high. Clearance of 164.90 would confirm a resumption of the uptrend. On the downside, key short-term support has been defined at 160.04, the Jan 13 low. A breach of this level would be a bearish development.