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Approaching Key Resistance

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 2: 140.00 High Apr 21 and the bull trigger
  • RES 1: 139.78 High Jun 1
  • PRICE: 139.64 @ 07:02 BST Jun 3
  • SUP 1: 138.32/36.85 High May 9 / 20-day EMA
  • SUP 2: 135.72/133.93 50-day EMA / Low May 19
  • SUP 3: 133.17 100-dma
  • SUP 4: 132.66 Low May 12 and the bear trigger

EURJPY continues to climb. The cross maintains this week’s firmer tone and is approaching key resistance at 140.00, the Apr 21 high. This level also represents an important bull trigger and a break would strengthen bullish conditions and confirm a resumption of the uptrend that started Mar 7. This would open 140.87, a Fibonacci projection. On the downside, the 20-day EMA at 136.85, is seen as a firm short-term support.

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