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Pullback Hits Pause

EURJPY TECHS
  • RES 4: 149.46 1.382 proj of the May 12 - Jun 28 - Aug 2 price swing
  • RES 3: 148.88 High Dec 9 2014
  • RES 2: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 1: 146.80/147.75 High Nov 2 / High Oct 31
  • PRICE: 145.58 @ 15:37 GMT Nov 4
  • SUP 1: 143.80 Low Oct 24 and key support
  • SUP 2: 143.31 50-day EMA
  • SUP 3: 141.78 Low Oct 13
  • SUP 4: 140.90 Low Oct 10

EURJPY maintains the week’s bearish tone despite a rally into the Friday close. On the recent move lower, price cleared the 20-day EMA. Key support to watch lies at 143.80, Oct 24 low. A break would suggest scope for a deeper retracement and open 141.78, the Oct 13 low. Key resistance is unchanged at 148.40, the Oct 21 high. Clearance of this hurdle would confirm a resumption of the uptrend that started Aug 2 and would open 149.46, a Fibonacci retracement.

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  • RES 4: 149.46 1.382 proj of the May 12 - Jun 28 - Aug 2 price swing
  • RES 3: 148.88 High Dec 9 2014
  • RES 2: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 1: 146.80/147.75 High Nov 2 / High Oct 31
  • PRICE: 145.58 @ 15:37 GMT Nov 4
  • SUP 1: 143.80 Low Oct 24 and key support
  • SUP 2: 143.31 50-day EMA
  • SUP 3: 141.78 Low Oct 13
  • SUP 4: 140.90 Low Oct 10

EURJPY maintains the week’s bearish tone despite a rally into the Friday close. On the recent move lower, price cleared the 20-day EMA. Key support to watch lies at 143.80, Oct 24 low. A break would suggest scope for a deeper retracement and open 141.78, the Oct 13 low. Key resistance is unchanged at 148.40, the Oct 21 high. Clearance of this hurdle would confirm a resumption of the uptrend that started Aug 2 and would open 149.46, a Fibonacci retracement.