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(Z2)‌‌ Pierces The 50-Day EMA


1/3/6-month UKTBs


Friday Data Calendar: UofM Sentiment


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Extends This Week’s Gains

  • RES 4: 130.29 High Feb 25
  • RES 3: 129.81 61.8% Retracement Feb - Mar Downleg
  • RES 2: 129.40 50-day EMA
  • RES 1: 128.87 High Mar 10
  • PRICE: 127.65 @ 17:52 GMT Mar 10
  • SUP 1: 126.01 Low Mar 9
  • SUP 2: 124.40/28 Low Mar 7 / 50.0% of the 2020 - 2021 bulls cycle
  • SUP 3: 123.45 1.618 proj of the Jan - Sep - Oct ‘21 price swing
  • SUP 4: 123.01 Low Nov 20 2020

This week's bounce in EURJPY remains intact. The cross traded firmer again Thursday and has tested the 50% retracement of the Feb - Mar downleg, at 128.77. Clearance of this resistance would suggest scope for a stronger recovery towards the 50-day EMA at 129.40. This week's gains are considered corrective however and trend signals such as moving averages, continue to highlight a downtrend. Monday’s low of 124.40 is the bear trigger.

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