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FOREX

EUR Crosses Come Under Pressure As ECB Beckons

EURJPY TECHS

Path Of Least Resistance Remains Up

USDJPY TECHS

Corrective Pullback

EURGBP TECHS

Trend Signals Remain Bearish

Pullback Considered Corrective

EURJPY TECHS
  • RES 4: 134.86 Bull channel top drawn off the Oct 30, 2020 low
  • RES 3: 134.80 High Feb 8, 2018
  • RES 2: 134.19 1.618 proj of Jun - Sep - Oct 2020 swing
  • RES 1: 134.13 High Jun 1 and the bull trigger
  • PRICE: 133.31 @ 06:37 BST Jun 8
  • SUP 1: 132.89 Low Jun 7
  • SUP 2: 132.52 Low May 24
  • SUP 3: 131.82 50-day EMA
  • SUP 4: 131.35 Bull channel base drawn off the Oct 30, 2020 low

EURJPY trend conditions remain bullish despite the recent move lower. The pullback is likely a correction. The cross touched a high of 134.13 on Jun 1 and the extension reinforces bullish conditions signalling scope for further gains within the rising channel drawn off the Oct 30 2020 low. The top of the channel intersects at 134.86. Firm support lies at 132.52, May 24 low. Initial support is seen at 132.89, yesterday's low.