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Narrows Gap With Resistance

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 2: 138.32/140.00 High May 9 / High Apr 21 and the bull trigger
  • RES 1: 137.67 High May 30
  • PRICE: 137.59 @ 14:58 BST May 30
  • SUP 1: 133.93 Low May 19
  • SUP 2: 132.81/66 100-dma / Low May 12 and the bear trigger
  • SUP 3: 132.20 50% retracement of the Mar 7 - Apr 21 bull phase
  • SUP 4: 131.59 Low Mar 22

EURJPY traded higher Monday, narrowing the gap with first resistance at 138.32 / 140.00 - High May 9 / High Apr 21 and the bull trigger. 132.66, the May 12 low, has been defined as a key S/T support, however, the recovery from 132.66 threatens a recent bearish theme. On the downside, clearance of 132.66 would be a bearish development. This would open 132.20.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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