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Bull Trend Extends

EURJPY TECHS
  • RES 4: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 3: 158.72 2.00 proj of the May 11 - 29 - 31 price swing
  • RES 2: 158.49 2.0% 10-dma envelope
  • RES 1: 158.00 High Jun 28
  • PRICE: 157.53 @ 16:05 BST Jun 28
  • SUP 1: 155.06/154.05 Low Jun 23 / 20 and key short-term support
  • SUP 2: 153.54 20-day EMA
  • SUP 3: 151.61 Low Jun 15
  • SUP 4: 150.65 50-day EMA

EURJPY bulls remain in the driver’s seat. The uptrend extended marginally on Wednesday to put the cross at a fresh multi-month high. Tuesday’s price action reinforces the current bullish theme after the latest impulsive rally. Moving average studies are in a bull mode position too, highlighting positive market sentiment. The focus is on 158.72, a Fibonacci projection. Initial key support is at 155.06, the Jun 23 low.

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