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Northbound

EURJPY TECHS
  • RES 4: 158.72 2.00 proj of the May 11 - 29 - 31 price swing
  • RES 3: 157.84 2.236 proj of the Mar 20 - 31 - Apr 6 price swing
  • RES 2: 157.53 1.764 proj of the May 11 - 29 - 31 price swing
  • RES 1: 156.93 High Jun 22
  • PRICE: 156.75 @ 06:46 BST Jun 27
  • SUP 1: 155.06/154.05 Low Jun 23 / 20 and key short-term support
  • SUP 2: 153.08 20-day EMA
  • SUP 3: 151.61 Low Jun 15
  • SUP 4: 150.35 50-day EMA

The EURJPY uptrend remains intact and the cross continues to trade at its recent highs. This reinforces the current bullish theme following the latest impulsive rally. Price has recently cleared key resistance at 151.61, the May 2 high and an important bull trigger. Moving average studies are in a bull mode position too, highlighting positive market sentiment. The focus is on 157.53 next, a Fibonacci projection. Initial key support is at 154.05, the Jun 20 low.

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