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Clears All Key Retracement Levels

EURJPY TECHS
  • RES 4: 133.48 High Oct 20 2021
  • RES 3: 133.15 High Feb 10 and a bull trigger
  • RES 2: 131.91 High Feb 16
  • RES 1: 131.47 Intraday high
  • PRICE: 131.04 @ 06:52 GMT Mar 17
  • SUP 1: 128.86 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 traded higher once again yesterday. The cross has cleared all key retracement levels of the recent Feb - Mar downleg and has this week breached both the 20- and 50-day EMAs. This signals potential for an extension to; 131.91, the Feb 16 high and key resistance at 133.15, the Feb 10 high. Initial support is seen at 128.86, the 20-day EMA.

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