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Maintains Week’s Bullish Theme

  • RES 4: 147.75 High Oct 31
  • RES 3: 147.10 High Nov 9 2022
  • RES 2: 146.73 High Dec 15
  • RES 1: 145.80 76.4% retracement of the Oct 21 - Jan 3 downleg
  • PRICE: 144.33 @ 16:44 BST Mar 31
  • SUP 1: 143.63 High Mar 22
  • SUP 2: 142.66 50-day EMA
  • SUP 3: 141.79 Low Mar 29
  • SUP 4: 141.05 Low Mar 28

EURJPY initially traded higher Friday before fading into the close. Nonetheless, the cross maintains the week’s bullish theme. The cross has pierced key resistance at 145.57, the Mar 2 high. A clear break of this level would strengthen bullish conditions and pave the way for gains above 146.00, towards 146.73, the Dec 15 high. Momentum studies remain in a bull-mode set-up highlighting a likely uptrend. On the downside, initial firm support lies at 142.66, the 50-day EMA.

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