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Key Supports Remain Intact

EURJPY TECHS
  • RES 4: 131.22 1.236 proj of the Jun - Sep - Oct 2020 price swing
  • RES 3: 130.67 High Mar 18 and the bull trigger
  • RES 2: 129.94 High Mar 22
  • RES 1: 129.46 High Mar 26 and intraday high
  • PRICE: 129.37 @ 06:36 GMT Mar 30
  • SUP 1: 128.26/25 50-day EMA / Trendline drawn off Oct 30, 2020 low
  • SUP 2: 127.50 Low Feb 22
  • SUP 3: 127.31 Low Feb 17
  • SUP 4: 126.98 Low Feb 12

EURJPY managed late last week to recover from 128.29, Mar 24 low. This leaves the 50-day EMA at 128.26, and trendline support at 128.25 intact. The trendline is drawn off the Oct 30, 2020 low. A break of this support zone is required to suggest scope for a deeper S/T sell-off and this would signal a reversal of the current uptrend. For bulls, initial firm resistance is at 129.94, Mar 22 high. A break would open the key resistance at 130.67, Mar 18 hig

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