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Approaching A Major Resistance

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 171.64 2.00 proj of the Jan 1 - 19 - Feb 1 price swing
  • RES 3: 170.04 1.764 proj of the Jan 1 - 19 - Feb 1 price swing
  • RES 2: 169.96 High Jul 2008 and a major resistance
  • RES 1: 169.39 High Apr 26
  • PRICE: 168.55 @ 17:26 BST Apr 26
  • SUP 1: 166.49 Low Apr 26
  • SUP 2: 164.70 20-day EMA
  • SUP 3: 164.22 Trendline drawn from the Dec 7 ‘23 low
  • SUP 4: 163.46 50-day EMA

The EURJPY trend condition remains bullish. Last week’s gains resulted in a breach of 165.35, the Mar 20 high, confirming a resumption of the uptrend. The break higher opens 169.96 next, the Jul 2008 high and major resistance. A break of this hurdle would highlight a key bullish technical development. Trendline support at 164.22 remains intact. The line is drawn from the Dec 7 ‘23 low and a clear break of it is required to signal a short-term reversal.

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  • RES 4: 171.64 2.00 proj of the Jan 1 - 19 - Feb 1 price swing
  • RES 3: 170.04 1.764 proj of the Jan 1 - 19 - Feb 1 price swing
  • RES 2: 169.96 High Jul 2008 and a major resistance
  • RES 1: 169.39 High Apr 26
  • PRICE: 168.55 @ 17:26 BST Apr 26
  • SUP 1: 166.49 Low Apr 26
  • SUP 2: 164.70 20-day EMA
  • SUP 3: 164.22 Trendline drawn from the Dec 7 ‘23 low
  • SUP 4: 163.46 50-day EMA

The EURJPY trend condition remains bullish. Last week’s gains resulted in a breach of 165.35, the Mar 20 high, confirming a resumption of the uptrend. The break higher opens 169.96 next, the Jul 2008 high and major resistance. A break of this hurdle would highlight a key bullish technical development. Trendline support at 164.22 remains intact. The line is drawn from the Dec 7 ‘23 low and a clear break of it is required to signal a short-term reversal.