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Key Bull Trigger Is 129.98

EURJPY TECHS
  • RES 4: 131.22 1.236 proj of the Jun - Sep - Oct 2020 price swing
  • RES 3: 130.15 High Nov 7, 2018
  • RES 2: 129.98 High Feb 25 and the bull trigger
  • RES 1: 129.64 High Mar 4
  • PRICE: 129.46 @ 06:33 GMT Mar 9
  • SUP 1: 128.78 Low Mar 8
  • SUP 2: 128.19 Low Mar 2 and key near-term support
  • SUP 3: 127.50 Low Feb 22
  • SUP 4: 127.31 Low Feb 17

EURJPY is firmer today but broadly unchanged and maintains its underlying bullish tone. From a short-term perspective trend conditions remain overbought and the risk of a corrective pullback is present. A move lower would open 128.26, the 20-day EMA and the Mar 2 low at 128.19. For bulls, clearance of 129.98, Feb 25 high resumes the uptrend and this would open 131.22, a Fibonacci projection.

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