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Attention Is On Last Weeks High

EURO-YEN TECHS
  • RES 4: 125.49 0.618 projection of the May 6 - Jun 5 from Jun 22 low
  • RES 3: 125.47 2.0% 10-dma envelope
  • RES 2: 125.23 High May 1, 2019
  • RES 1: 124.29/43 High Jul 22 / Jun 5 and key resistance
  • PRICE: 123.47 @ 10:29 BST Jul 28
  • SUP 1: 122.84 Low Jul 24
  • SUP 2: 122.47 Low Jul 21
  • SUP 3: 122.35 20-day EMA
  • SUP 4: 121.82 Low Jul 15 and 16

EURJPY last week found resistance at 124.29, Jul 22 high just ahead of
the primary resistance at 124.43, Jun 5 high. Friday saw key support at
123.06 probed before the cross found strong support at the day low of
122.84. A close below 123.06 would signal a top and highlight the
potential for a deeper correction. For now, the current uptrend remains
intact. Clearance of 124.43 would trigger an extension higher.

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