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Retracement Mode

EURJPY TECHS
  • 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: 142.86/144.28 High Jun 30/28 and the bull trigger
  • PRICE: 141.27 @ 06:58 BST Jul 1
  • SUP 1: 140.94 Intraday low
  • SUP 2: 139.45 Low Jun 17
  • SUP 3: 139.24/137.85 50-day EMA / Low Jun 16 and key support
  • SUP 4: 136.25 Low May 30

EURJPY traded higher Tuesday, reaching a fresh cycle high of 144.28. The cross has since found resistance and continues to pull back from Tuesday’s peak. The cross has traded through support at 141.40, Jun 24 low, and this signals scope for a deeper correction, potentially down to the 50-day EMA that intersects at 139.24. The bull trigger is 144.28 where a break would confirm a resumption of the uptrend.

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