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Rallies Into the Close

EURJPY TECHS
  • RES 4: 134.80 High Feb 8, 2018
  • RES 3: 134.36 Bull channel top drawn off the Oct 30, 2020 low
  • RES 2: 134.19 1.618 proj of Jun-Sep-Oct 2020 swing
  • RES 1: 133.91 High May 27
  • PRICE: 133.84 @ 16:43 BST May 27
  • SUP 1: 132.52 Low May 24
  • SUP 2: 131.69 Low May 12
  • SUP 3: 130.99 Low May 5 and a key support
  • SUP 4: 130.85 Bull channel base drawn off the Oct 30, 2020 low

EURJPY returned to its upside bias Thursday, rallying into the close to touch 133.91. Continued gains reinforce bullish conditions and signal scope for an extension within the rising channel drawn off the Oct 30 2020 low. The top of the channel intersects at 134.36. Moving average studies are still pointing north, reinforcing current conditions. Initial firm support lies at 132.52, May 24 low. A firmer trend support is found at 130.99, May 5 low.

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