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Approaching Its Bull Trigger

  • RES 4: 146.74 High Dec 30, 2014
  • RES 3: 145.00/58 Round number resistance / High Dec 31 2014
  • RES 2: 144.58 0.764 proj of Mar 7 - 28 - Apr 5 swing
  • RES 1: 144.25 High Jun 8 and the bull trigger
  • PRICE: 143.47 @ 12:39 BST Jun 21
  • SUP 1: 139.87 20-day EMA
  • SUP 2: 137.85/82 Low Jun 16 / 50-day EMA and key support
  • SUP 3: 136.25 Low May 30
  • SUP 4: 134.99 Low May 25

EURJPY is trading higher today, as the cross extends the recovery from last week’s low of 137.85 (Jun 16 low). Attention turns to the bull trigger at 144.25, Jun 8 high, where a break would confirm a resumption of the primary uptrend and open the 145.00 handle. Moving average studies remain in bull mode, clearly highlighting current bullish sentiment. Key pivot support has been defined at 137.85, Jun 16 low.

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