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Key Support Levels Remain Intact

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.98 3.0% 10-dma envelope
  • RES 2: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 1: 138.32/140.00 High May 9 / High Apr 21 and the bull trigger
  • PRICE: 137.25 @ 16:33 BST May 10
  • SUP 1: 137.46 Low May 11
  • SUP 2: 135.00/134.30 50-day EMA / Low Apr 5 and a key support
  • SUP 3: 132.95 Low Mar 24
  • SUP 4: 132.33 Low Mar 23

EURJPY is unchanged. The cross continues to consolidate and is holding on to its most recent gains. Short-term pullbacks are considered corrective and the current uptrend remains intact. The 50-day EMA, represents a key support. It intersects at 135.00, just above another key support at 134.30, Apr 5 low. While these levels hold, the trend outlook remains bullish. The bull trigger is 140.00, the Apr 21 high.

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