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Finds Support

EURJPY TECHS
  • RES 4: 145.58 High Dec 31 2014
  • RES 3: 145.00 Round number resistance
  • RES 2: 144.25/58 High Jun 8 / 0.764 proj of Mar 7 - 28 - Apr 5 swing
  • RES 1: 142.79 High Jun 10
  • PRICE: 141.08 @ 06:49 BST Jun 17
  • SUP 1: 137.85/38.31 Low Jun 16 / 2.0% 10-dma envelope
  • SUP 2: 137.48 50-day EMA
  • SUP 3: 136.25 Low May 30
  • SUP 4: 134.99 Low May 25

EURJPY outlook deteriorated Thursday, however the cross has recovered from the session low. The recent pullback is considered corrective and the primary trend remains up. The climb above 140.00 confirmed a resumption of the uptrend that began Mar 7. MA studies still point north, reinforcing current conditions and signals scope for a continuation higher towards 144.58 next, a Fibonacci projection. Firm S/T support is seen at 137.48, the 50-day EMA.

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  • RES 4: 145.58 High Dec 31 2014
  • RES 3: 145.00 Round number resistance
  • RES 2: 144.25/58 High Jun 8 / 0.764 proj of Mar 7 - 28 - Apr 5 swing
  • RES 1: 142.79 High Jun 10
  • PRICE: 141.08 @ 06:49 BST Jun 17
  • SUP 1: 137.85/38.31 Low Jun 16 / 2.0% 10-dma envelope
  • SUP 2: 137.48 50-day EMA
  • SUP 3: 136.25 Low May 30
  • SUP 4: 134.99 Low May 25

EURJPY outlook deteriorated Thursday, however the cross has recovered from the session low. The recent pullback is considered corrective and the primary trend remains up. The climb above 140.00 confirmed a resumption of the uptrend that began Mar 7. MA studies still point north, reinforcing current conditions and signals scope for a continuation higher towards 144.58 next, a Fibonacci projection. Firm S/T support is seen at 137.48, the 50-day EMA.