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Eyeing The 130.00 Handle

EURJPY TECHS
  • RES 4: 131.91 High Feb 16
  • RES 3: 131.08 76.4% Retracement Feb - Mar Downleg
  • RES 2: 130.71 High Feb 23
  • RES 1: 130.03 High Mar 15
  • PRICE: 129.84 @ 06:43 GMT Mar 16
  • SUP 1: 128.63 20-day EMA
  • SUP 2: 127.42 Low Mar 10
  • SUP 3: 126.01 Low Mar 9
  • SUP 4: 124.40 Low Mar 7 and a key support

EURJPY remains in a short-term uptrend following last week’s gains and the cross pushed higher yesterday. The 61.8% retracement of the Feb - Mar downleg, at 129.81, has been probed and the 50-day EMA has been cleared. This strengthens the current bull theme and signals potential for a climb above the 130.00 handle towards 131.08, the 76.4% retracement. Initial firm support is at 127.42, the Mar 10 low.

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