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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: 142.05 @ 06:50 BST Jun 20
  • SUP 1: 137.85 Low Jun 16 and key support
  • SUP 2: 137.65 50-day EMA
  • SUP 3: 136.25 Low May 30
  • SUP 4: 134.99 Low May 25

EURJPY has recovered from last week’s low of 137.85 on Jun 16. The recent pullback is considered corrective and the primary trend remains up. The climb above 140.00 this month confirmed a resumption of the uptrend that began Mar 7. Moving average studies still point north, reinforcing current conditions and this signals scope for a continuation higher towards 144.58 next, a Fibonacci projection. Firm S/T support is seen at 137.65, 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: 142.05 @ 06:50 BST Jun 20
  • SUP 1: 137.85 Low Jun 16 and key support
  • SUP 2: 137.65 50-day EMA
  • SUP 3: 136.25 Low May 30
  • SUP 4: 134.99 Low May 25

EURJPY has recovered from last week’s low of 137.85 on Jun 16. The recent pullback is considered corrective and the primary trend remains up. The climb above 140.00 this month confirmed a resumption of the uptrend that began Mar 7. Moving average studies still point north, reinforcing current conditions and this signals scope for a continuation higher towards 144.58 next, a Fibonacci projection. Firm S/T support is seen at 137.65, the 50-day EMA.