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Pullback Appears Corrective

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 147.10 High Nov 9 2022
  • RES 3: 146.73 High Dec 15 and a key resistance
  • RES 2: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
  • RES 1: 144.39/145.10 High Mar 13 / 10
  • PRICE: 142.82 @ 07:01 GMT Mar 14
  • SUP 1: 141.37 Low Mar 13
  • SUP 2: 140.14/11 Low Feb 13 / 3.0% 10-dma envelope
  • SUP 3: 139.56 Low Feb 10
  • SUP 4: 139.06 Low Jan 20

The recent pullback in EURJPY appears to be a correction. Trend conditions remain bullish and recent gains have maintained the positive price sequence of higher highs and higher lows. A resumption of the uptrend would open 145.80, a Fibonacci retracement and 146.73, the Dec 15 high. Key short-term support has been tested - the cross pierced 142.15 yesterday, the Feb 24 low. A clear breach of this level would expose the 140.00 handle.

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  • RES 4: 147.10 High Nov 9 2022
  • RES 3: 146.73 High Dec 15 and a key resistance
  • RES 2: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
  • RES 1: 144.39/145.10 High Mar 13 / 10
  • PRICE: 142.82 @ 07:01 GMT Mar 14
  • SUP 1: 141.37 Low Mar 13
  • SUP 2: 140.14/11 Low Feb 13 / 3.0% 10-dma envelope
  • SUP 3: 139.56 Low Feb 10
  • SUP 4: 139.06 Low Jan 20

The recent pullback in EURJPY appears to be a correction. Trend conditions remain bullish and recent gains have maintained the positive price sequence of higher highs and higher lows. A resumption of the uptrend would open 145.80, a Fibonacci retracement and 146.73, the Dec 15 high. Key short-term support has been tested - the cross pierced 142.15 yesterday, the Feb 24 low. A clear breach of this level would expose the 140.00 handle.