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Testing The 20-Day EMA

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  • RES 4: 134.40 2.382 proj of the Sep 22 - 29 - Oct 6 price swing
  • RES 3: 134.13 High Jun 1 and a key resistance
  • RES 2: 133.76 High Jun 10
  • RES 1: 133.48 High Oct 20
  • PRICE: 132.01 @ 16:15 BST Oct 25
  • SUP 1: 132.81/131.18 Low Oct 15 / 20-day EMA
  • SUP 2: 130.75 Sep 3 high
  • SUP 3: 130.44 50-day EMA
  • SUP 4: 129.28 Low Oct 11

EURJPY is off recent highs. Dips though are still considered corrective. Last week's climb confirmed an extension of the upleg that started Oct 6. The cross has also recently cleared 130.75, the Sep 3 high bull trigger and underlying momentum conditions remain bullish. The focus is on 133.76 next, Jun 10 high and 134.13, Jun 1 high. Initial support is at 131.81, Oct 15 low. The 20-day EMA, as support, intersects at 131.18.