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Monitoring The 20-Day EMA

EURJPY TECHS
  • RES 4: 146.74 High Dec 30, 2014
  • RES 3: 145.00/58 Round number resistance / High Dec 31 2014
  • RES 2: 144.58 0.764 proj of Mar 7 - 28 - Apr 5 swing
  • RES 1: 144.28 High Jun 28
  • PRICE: 142.95 @ 06:45 BST Jun 29
  • SUP 1: 141.37 20-day EMA
  • SUP 2: 139.45 Low Jun 17
  • SUP 3: 138.97/37.85 50-day EMA / Low Jun 16 and key support
  • SUP 4: 136.25 Low May 30

EURJPY traded higher Tuesday, delivering a fresh cycle high of 144.28. This high print has cancelled a recent 3-day candle pattern - evening star reversal. This reinforces the uptrend and a continuation higher would open 144.58, a Fibonacci projection. Key S/T support is at 141.37, the 20-day EMA. The cross has pulled back from yesterday’s high, a break of the 20-day EMA is required to once again highlight a potential top and short-term reversal.

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