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- RES 4: 132.36 1.382 proj of the Jun - Sep - Oct 2020 price swing
- RES 3: 131.22 1.236 proj of the Jun - Sep - Oct 2020 price swing
- RES 2: 131.04 1.0% 10-dma envelope
- RES 1: 130.69 High Apr 7
- PRICE: 130.26 @ 06:30 GMT Apr 8
- SUP 1: 129.62/13 20-day EMA / Low Mar 30
- SUP 2: 128.71/68 50-day EMA / Trendline drawn off Oct 30, 2020 low
- SUP 3: 127.50 Low Feb 22
- SUP 4: 127.31 Low Feb 17
EURJPY inched to new highs Wednesday, touching 130.69 before fading. A bullish focus remains in place - the break higher extends the recent recovery from 128.29, Mar 24 low. Key support is highlighted by the 50-day EMA at 128.71, and trendline support at 128.68, drawn off the Oct 30, 2020 low. A break of this zone would suggest scope for a deeper sell-off and signal a reversal. For bulls, further gains would open 131.22, a Fibonacci projection.