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Bullish Conditions Remain Intact

EURJPY TECHS
  • RES 4: 133.48 High Oct 20 2021
  • RES 3: 133.15 High Feb 10 and a bull trigger
  • RES 2: 132.69 3.0% 10-dma envelope
  • RES 1: 131.91/93 High Feb 16, Mar 18
  • PRICE: 131.66 @ 16:58 GMT Mar 21
  • SUP 1: 129.37 20-day EMA
  • SUP 2: 127.42 Low Mar 10
  • SUP 3: 126.01 Low Mar 9
  • SUP 4: 124.40 Low Mar 7 and a key support

EURJPY remains in a short-term uptrend and the cross traded higher again Friday. All key retracement levels of the recent Feb - Mar downleg have been cleared and price remains above both the 20- and 50-day EMAs. Recent gains signal potential for an extension towards the key resistance at 133.15, the Feb 10 high. Initial support is seen at 129.37 the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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