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Bull Cycle Remains In Play

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 171.56 High Apr 29 and the bull trigger
  • RES 3: 171.27 2.0% 10-dma envelope
  • RES 2: 169.78 76.4% retracement of the Apr 29 - May 3 retracement
  • RES 1: 169.58 Intraday high
  • PRICE: 169.46 @ 07:06 BST May 20
  • SUP 1: 167.20 20-day EMA
  • SUP 2: 165.85 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.41 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY has recovered from last Thursday’s low and is trading higher today. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial resistance to watch is 169.78, a Fibonacci retracement. Support at the 20-day EMA, at 167.20, remains intact. Key trendline support drawn from the Dec 7 ‘23 low, lies at 165.85. A clear break of this line would highlight a stronger reversal.

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  • RES 4: 171.56 High Apr 29 and the bull trigger
  • RES 3: 171.27 2.0% 10-dma envelope
  • RES 2: 169.78 76.4% retracement of the Apr 29 - May 3 retracement
  • RES 1: 169.58 Intraday high
  • PRICE: 169.46 @ 07:06 BST May 20
  • SUP 1: 167.20 20-day EMA
  • SUP 2: 165.85 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.41 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY has recovered from last Thursday’s low and is trading higher today. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial resistance to watch is 169.78, a Fibonacci retracement. Support at the 20-day EMA, at 167.20, remains intact. Key trendline support drawn from the Dec 7 ‘23 low, lies at 165.85. A clear break of this line would highlight a stronger reversal.