Key Support Remains Exposed

• RES 4: 143.16 61.8% retracement of the Dec 15 - Jan 3 bear leg
• RES 3: 142.86/94 High Jan 11 / High Dec 28 and key resistance
• RES 2: 141.69 High Jan 18
• RES 1: 141.20 High Jan 20
• PRICE: 140.69 @ 16:05 GMT Jan 20
• SUP 1: 137.92 Low Jan 19
• SUP 2: 137.39 Low Jan 3 and the bear trigger
• SUP 3: 137.03 Low Aug 29
• SUP 4: 136.02 Low Aug 25

EURJPY continues to trade below Wednesday’s high of 141.69. The reversal from 141.69 highlights a bearish threat and has exposed support at 137.39, the Jan 3 low and bear trigger. A break of this level would confirm a resumption of the downtrend and open 137.03, the Aug 29 low. MA studies remain in a bear mode position and this highlights a dominant downtrend. Key resistance is at 141.69/142.86, the Jan 18 and 11 highs respectively.