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Corrective Pullback

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 167.45 1.382 proj of the Jan 2 - 19 - Feb 1 price swing
  • RES 3: 166.81 2.0% 10-dma envelope
  • RES 2: 166.00 Round number resistance
  • RES 1: 165.35 High Mar 20 and the bull trigger
  • PRICE: 163.37 @ 16:37 GMT Mar 28
  • SUP 1: 163.04 20-day EMA
  • SUP 2: 161.83 Trendline drawn from Dec 7 low
  • SUP 3: 160.22 Low Mar 11
  • SUP 4: 159.47 Low Feb 8

The uptrend in EURJPY remains intact and the recent pullback appears to be a correction. The rally on Mar 20, through 164.30, the Nov 16 ‘23 high and a medium-term bull trigger, confirmed a resumption of the long-term uptrend. The break higher opens the 166.00 handle. Initial firm support lies at 163.04, the 20-day EMA. Trendline support, drawn from the Dec 7 ‘23 low, is at 161.83.

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  • RES 4: 167.45 1.382 proj of the Jan 2 - 19 - Feb 1 price swing
  • RES 3: 166.81 2.0% 10-dma envelope
  • RES 2: 166.00 Round number resistance
  • RES 1: 165.35 High Mar 20 and the bull trigger
  • PRICE: 163.37 @ 16:37 GMT Mar 28
  • SUP 1: 163.04 20-day EMA
  • SUP 2: 161.83 Trendline drawn from Dec 7 low
  • SUP 3: 160.22 Low Mar 11
  • SUP 4: 159.47 Low Feb 8

The uptrend in EURJPY remains intact and the recent pullback appears to be a correction. The rally on Mar 20, through 164.30, the Nov 16 ‘23 high and a medium-term bull trigger, confirmed a resumption of the long-term uptrend. The break higher opens the 166.00 handle. Initial firm support lies at 163.04, the 20-day EMA. Trendline support, drawn from the Dec 7 ‘23 low, is at 161.83.