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Finds Resistance At The Day High

  • RES 4: 127.50 High Mar 1, 2019
  • RES 3: 126.95 0.764 proj of May 6 - Jun 5 rally from Jun 22 low
  • RES 2: 126.81 High Aug 17, 2019
  • RES 1: 126.77 Intraday high
  • PRICE: 125.66 @ 10:33 BST Aug 28
  • SUP 1: 125.11 20-day EMA
  • SUP 2: 124.44 Low Aug 21
  • SUP 3: 124.34 Low Aug 10/11 and key support
  • SUP 4: 123.84 Low Jul 31

EURJPY continues to trade above recent lows and overnight did test key resistance at 126.67, Aug 13 high touching a high of 126.77 before finding resistance once again. A clear breach of 126.67 would confirm a resumption of the uptrend that has been in place since early May and open 126.95, a Fibonacci projection. On the downside, key support resides at 124.44, Aug 21 low and marks a pivot level. A breach would instead signal a reversal.

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