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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: 140.81 @ 14:46 BST Jul 1
  • SUP 1: 140.68 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 is trading lower today as the cross extends the reversal from Tuesday’s high of 144.28. Today's weakness has resulted in a clear break of the 20-day EMA. This strengthens short-term bearish conditions and signals scope for a move towards the 50-day EMA, at 139.24. This average represents an important short-term support. On the upside, the bull trigger is 144.28 where a break is required to confirm a resumption of the uptrend.

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