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Corrective Pullback

EURJPY TECHS
  • RES 4: 146.74 High Dec 30 2014
  • RES 3: 145.58 High Dec 31 2014
  • RES 2: 145.00 Round number resistance
  • RES 1: 144.58 0.764 proj of the Mar 7 - 28 - Apr 5 price swing
  • PRICE: 141.36 @ 15:53 BST Jun 10
  • SUP 1: 140.80 Low Jun 10
  • SUP 2: 140.00 High Apr 21 and recent breakout level
  • SUP 3: 138.92/32/52 20-day EMA / High May 9
  • SUP 4: 136.86 50-day EMA

EURJPY returned closer to the week’s lows ahead of the Friday close. The move lower however is considered corrective The latest rally, above 140.00, confirms a resumption of the uptrend that started Mar 7. Moving average studies continue to point north, reinforcing current conditions and signalling potential for a continuation higher. The focus is on 144.58 next, a Fibonacci projection and 145.00 is also within range. Firm S/T support is seen at 140.00, the recent bull trigger.

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