EURJPY maintains a short-term bullish tone and the latest pullback is considered corrective - for now. Last week’s move higher resulted in a breach of 150.32, 76.4% of the May 2 - 11 sell-off. The break opens 151.61, the May 2 high and a bull trigger. The 50-day EMA, which intersects at 147.43, remains intact and is a key support. A clear break of this EMA is required to signal a reversal. Initial support lies at 148.84, the May 24 low.

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Taso Anastasiou

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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Pullback Considered Corrective - For Now