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Impulsive Bear Leg

EURJPY TECHS
  • RES 4: 143.71 20-day EMA
  • RES 3: 142.95 50-day EMA
  • RES 2: 142.15 Low Feb 24
  • RES 1: 141.37 Low Mar 13
  • PRICE: 140.03 @ 12:58 GMT Mar 15
  • SUP 1: 139.56 Low Feb 10
  • SUP 2: 139.06 Low Jan 20
  • SUP 3: 137.92 Low Jan 19
  • SUP 4: 137.39 Low Jan 3 and a key support

EURJPY remains offered as today’s selling pressure drags the cross through Monday’s low of 141.37. The breach of this key short-term support resumes the downleg that started Mar 2. The focus is on 140.00 and support at 139.56, the Feb 10 low. Clearance of 139.56 would signal scope for a move towards 137.92, the Jan 19 low. Initial firm resistance is seen at 142.15, the Feb 24 low.

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