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Bullish Outlook

EURJPY TECHS
  • RES 4: 146.23 2.236 proj of the Aug 2- 10 - 16 price swing
  • RES 3: 145.48 High Jan 1 2015
  • RES 2: 145.00 Psychological round number
  • RES 1: 144.72 Intraday high
  • PRICE: 143.16 @ 16:15 BST Sep 9
  • SUP 1: 142.32/141.37 High Jul 21 / Low Sep 7
  • SUP 2: 139.56 Low Sep 6
  • SUP 3: 138.71 50-day EMA
  • SUP 4: 137.03 Low Aug 29

EURJPY held on to the bulk of the week’s gains into the Friday close. The recent impulsive climb reinforces current bullish conditions and maintains a positive price sequence of higher highs and higher lows. The cross has cleared resistance at 142.32, the Jul 21 high. Note that price has pierced 144.28, the Jun 28 high and a major resistance. A clear break would confirm a resumption of the broader uptrend. Initial support is seen at 142.32, the Jul 21 high.

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  • RES 4: 146.23 2.236 proj of the Aug 2- 10 - 16 price swing
  • RES 3: 145.48 High Jan 1 2015
  • RES 2: 145.00 Psychological round number
  • RES 1: 144.72 Intraday high
  • PRICE: 143.16 @ 16:15 BST Sep 9
  • SUP 1: 142.32/141.37 High Jul 21 / Low Sep 7
  • SUP 2: 139.56 Low Sep 6
  • SUP 3: 138.71 50-day EMA
  • SUP 4: 137.03 Low Aug 29

EURJPY held on to the bulk of the week’s gains into the Friday close. The recent impulsive climb reinforces current bullish conditions and maintains a positive price sequence of higher highs and higher lows. The cross has cleared resistance at 142.32, the Jul 21 high. Note that price has pierced 144.28, the Jun 28 high and a major resistance. A clear break would confirm a resumption of the broader uptrend. Initial support is seen at 142.32, the Jul 21 high.