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Rebound Extends

EURJPY TECHS
  • RES 4: 145.57 High Mar a2 and a key resistance
  • RES 3: 144.96 High Mar 15
  • RES 2: 143.98 76.4% retracement of the recent Mar 2 - 20 bear cycle
  • RES 1: 143.63 High Mar 22
  • PRICE: 142.53 @ 16:21 GMT Mar 22
  • SUP 1: 140.42/138.83 Low Mar 21 / 20
  • SUP 2: 138.40 3.0% 10-dma envelope
  • SUP 3: 137.92 Low Jan 19
  • SUP 4: 137.39 Low Jan 3 and a key support

EURJPY traded higher Tuesday as the cross extended the recovery from Monday’s low of 138.83. This low represents a key short-term support where a break is required to reinstate the recent bearish threat. A move lower would open 137.39, the Jan 3 low and a key support. For bulls, a continuation higher would expose 143.98, the 76.4% retracement of the recent Mar 2 - 20 bear cycle.

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