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Extends Run Higher

EURJPY TECHS
  • RES 4: 158.72 2.00 proj of the May 11 - 29 - 31 price swing
  • RES 3: 158.48 2.0% 10-dma envelope
  • RES 2: 158.00 Psychological Resistance
  • RES 1: 157.87 High Jun 27
  • PRICE: 157.84 @ 16:27 BST Jun 27
  • SUP 1: 155.06/154.05 Low Jun 23 / 20 and key short-term support
  • SUP 2: 153.08 20-day EMA
  • SUP 3: 151.61 Low Jun 15
  • SUP 4: 150.35 50-day EMA

The EURJPY uptrend extended Tuesday to put the cross at a fresh multi-month high, taking out nearby resistance in the process. Tuesday’s price action reinforces the current bullish theme after the latest impulsive rally. Price has recently cleared key resistance at 151.61, the May 2 high and an important bull trigger. Moving average studies are in a bull mode position too, highlighting positive market sentiment. The focus is on 158.72, a Fibonacci projection. Initial key support is at 154.05, the Jun 20 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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