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Fresh Cycle High

EURJPY TECHS
  • RES 4: 160.66 2.382 proj of the May 11 - 29 - 31 price swing
  • RES 3: 160.00 Psychological handle
  • RES 2: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 1: 159.76 High Aug 30
  • PRICE: 159.32 @ 07:00 BST Aug 31
  • SUP 1: 158.06/156.87 20-day EMA / Low Aug 23
  • SUP 2: 156.42 50-day EMA
  • SUP 3: 155.11 Low Jul 31
  • SUP 4: 154.50 61.8% retracement of the Jul 28 - Aug 22 rally

The uptrend in EURJPY remains intact and yesterday’s fresh cycle high, reinforces current conditions and confirms a resumption of the uptrend. This also maintains the bullish price sequence of higher highs and higher lows and moving average studies remain in bull-mode position. Sights are on 159.92, a Fibonacci projection ahead of the 160.00 psychological handle. On the downside, initial support to watch is the 20-day EMA, at 158.06.

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