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Eyeing The 140.00 Handle

  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.93 0.50 proj of the Mar 7 - 28 - Apr 8 price swing
  • RES 2: 140.00 Round number resistance
  • RES 1: 139.69 High Apr 20
  • PRICE: 138.71 @ 16:16 BST Apr 20
  • SUP 1: 137.53/36.87 High Mar 28 / Low Apr 19
  • SUP 2: 135.33/134.36 20-day EMA / Low Apr 8 and a key support
  • SUP 3: 133.94 Low Mar 28
  • SUP 4: 133.11 50-day EMA

EURJPY traded initially higher Wednesday, reaching 139.69 and delivering another fresh cycle high in the process. The recent break of key short-term resistance at 137.50/53, the Feb 2 2018 and Mar 28 highs respectively, confirms a resumption of the current bull leg that started Mar 7. The move higher also confirms the end of the recent corrective phase. The focus is on 140.00 next. Key S/T trend support has been defined at 134.36, Apr 8 low. Initial support is at 137.53.

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