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Accelerates Off Bull Trigger

EURJPY TECHS
  • RES 4: 129.47 1.00 proj of the Jun - Aug - Oct 2020 price swing
  • RES 3: 129.26 High Dec 13, 2018
  • RES 2: 130.63 1.0% 10-dma Envelope
  • RES 1: 129.97 High Feb 25
  • PRICE: 129.91 @ 17:25 GMT Feb 25
  • SUP 1: 127.31 Low Feb 17
  • SUP 2: 127.04 Low Dec 15
  • SUP 3: 126.40 50-day EMA
  • SUP 4: 126.10 Low Feb 4

The cross continues to post gains, gaining traction after topping the bull trigger of 128.46 earlier in the week and touching the best levels since late 2018 in the process. This opens the cross for further gains toward the Dec 13, 2018 high at 129.26, although technically overbought conditions are now present, which may slow progress from here.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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