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Recovers From Friday’s Low

EURJPY TECHS
  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9
  • RES 1: 145.27 20-day EMA
  • PRICE: 144.33 @ 16:08 GMT Nov 15
  • SUP 1: 142.57 Low Nov 11 and the bear Trigger
  • SUP 2: 141.78 Low Oct 13
  • SUP 3: 140.90 Low Oct 10
  • SUP 4: 140.00 76.4% retracement of the Sep 26 - Oct 21 rally

EURJPY traded sharply lower on Oct 11 but has recovered from last week’s lows. Recent weakness resulted in a breach of support at 143.80, the Oct 24 low and price traded below the 50-day EMA. A resumption of weakness would signal potential for a deeper retracement and open 141.78, the Oct 13 low. On the upside, a stronger reversal higher and a break of resistance at 147.10, the Nov 9 high would instead expose the bull trigger at 148.40.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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