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Consolidating

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 2: 138.32/140.00 High May 9 / High Apr 21 and the bull trigger
  • RES 1: 136.80 High May 23
  • PRICE: 136.25 @ 16:43 BST May 27
  • SUP 1: 133.93 Low May 19
  • SUP 2: 132.81/66 100-dma / Low May 12 and the bear trigger
  • SUP 3: 132.20 50% retracement of the Mar 7 - Apr 21 bull phase
  • SUP 4: 131.59 Low Mar 22

EURJPY is consolidating. On May 23, the cross attempted a break of resistance at 136.75, May 12 high, before pulling back. 132.66, the May 12 low, has been defined as a key S/T support. The recovery from 132.66 threatens a recent bearish theme. An extension higher would open 138.32, May 9 high and an important S.T resistance. On the downside, clearance of 132.66 would be a bearish development. This would open 132.20.

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  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 2: 138.32/140.00 High May 9 / High Apr 21 and the bull trigger
  • RES 1: 136.80 High May 23
  • PRICE: 136.25 @ 16:43 BST May 27
  • SUP 1: 133.93 Low May 19
  • SUP 2: 132.81/66 100-dma / Low May 12 and the bear trigger
  • SUP 3: 132.20 50% retracement of the Mar 7 - Apr 21 bull phase
  • SUP 4: 131.59 Low Mar 22

EURJPY is consolidating. On May 23, the cross attempted a break of resistance at 136.75, May 12 high, before pulling back. 132.66, the May 12 low, has been defined as a key S/T support. The recovery from 132.66 threatens a recent bearish theme. An extension higher would open 138.32, May 9 high and an important S.T resistance. On the downside, clearance of 132.66 would be a bearish development. This would open 132.20.