Corrective Pullback

• RES 4: 153.62 1.618 proj of the Mar 20 - 21 - Apr 6 price swing
• RES 3: 152.81 1.50 proj of the Mar 20 - 21 - Apr 6 price swing
• RES 2: 152.00 1.382 proj of the Mar 20 - 21 - Apr 6 price swing
• RES 1: 151.61 High May 2 and the bull trigger
• PRICE: 149.09 @ 07:16 BST May 4
• SUP 1: 148.83 Intraday low
• SUP 2: 148.62 High Apr 25 and a recent breakout level
• SUP 3: 147.50 20-day EMA
• SUP 4: 146.29 Low Apr 25 and a key short-term support

EURJPY remains below the week’s best levels. The trend condition is bullish following recent gains and a move lower is considered corrective. 151.00 has been cleared, the 1.236 projection of the Mar 20 - 21 - Apr 6 price swing and this opens 152.00 next, the 1.382 projection. Key short-term support has been defined at 146.29, the Apr 25 low, where a break is required to signal a short-term reversal. Initial firm support lies at 148.62, the Apr 25 high.