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Needle Points North, Despite Friday Pullback

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 147.75 High Oct 31
  • RES 3: 147.10 High Nov 9 2022
  • RES 2: 146.73 High Dec 15 and a key resistance
  • RES 1: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
  • PRICE: 143.74 @ 16:15 GMT Mar 10
  • SUP 1: 143.63 Low Mar 9
  • SUP 2: 142.87/15 50-day EMA / Low Feb 24 and a key support
  • SUP 3: 141.52 Low Feb 14
  • SUP 4: 140.14 Low Feb 13

The latest pullback in EURJPY is likely a correction and the shallow pullback appears to be a bull flag. Trend conditions are bullish and recent gains maintain the positive price sequence of higher highs and higher lows. Sights are on 145.80, a Fibonacci retracement and 146.73, the Dec 15 high. On the downside, key short-term support has been defined at 142.15, the Feb 24 low. First support lies at 143.63, Thursday’s low.

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  • RES 4: 147.75 High Oct 31
  • RES 3: 147.10 High Nov 9 2022
  • RES 2: 146.73 High Dec 15 and a key resistance
  • RES 1: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
  • PRICE: 143.74 @ 16:15 GMT Mar 10
  • SUP 1: 143.63 Low Mar 9
  • SUP 2: 142.87/15 50-day EMA / Low Feb 24 and a key support
  • SUP 3: 141.52 Low Feb 14
  • SUP 4: 140.14 Low Feb 13

The latest pullback in EURJPY is likely a correction and the shallow pullback appears to be a bull flag. Trend conditions are bullish and recent gains maintain the positive price sequence of higher highs and higher lows. Sights are on 145.80, a Fibonacci retracement and 146.73, the Dec 15 high. On the downside, key short-term support has been defined at 142.15, the Feb 24 low. First support lies at 143.63, Thursday’s low.