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EURJPY TECHS

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  • RES 4: $1627.13 - 1.236 proj of Dec 2 - Jan 14 - Jan 25 price swing
  • RES 3: $1600.00 - Round number resistance
  • RES 2: $1583.25 - 2.236 proj of Mar 31 - Apr 1 - Apr 12 price swing
  • RES 1: $1574 75 - High Apr 27
  • PRICE: $1560.75 @ 13:02 BST May 6
  • SUP 1: $1480.00 - Low Apr 22
  • SUP 2: $1453.00 - Low Apr 21
  • SUP 3: $1434.94 - 50-day EMA
  • SUP 4: $1374.75 - Low Apr 12 and 13 low and key near-term support

Soybean futures maintain a firmer tone while still trading below last week's high. Recent gains resulted in a break of the $1500.00 handle. The move to new highs since Apr 20 confirms a resumption of the underlying uptrend. Bullish conditions are also supported by a positive moving average set-up and recent price gains sets the scene for a climb towards $1600.00 next. Support is at $1480.00.