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Recovery Extends

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 171.99 2.0% 10-dma envelope
  • RES 3: 171.56 High Apr 29 and the bull trigger
  • RES 2: 170.65 0.618 proj of the May 3 - 15 - 16 price swing
  • RES 1: 169.94 High May 21
  • PRICE: 169.68 @ 06:50 BST May 22
  • SUP 1: 167.63 20-day EMA
  • SUP 2: 166.07 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.73 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY has recovered from last Thursday’s low and is trading higher this week. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial support at the 20-day EMA, at 167.63, remains intact. Key trendline support drawn from the Dec 7 ‘23 low, lies at 166.07. A clear break of this line would highlight a stronger reversal and initially expose support at the 50-day EMA, at 165.73.

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  • RES 4: 171.99 2.0% 10-dma envelope
  • RES 3: 171.56 High Apr 29 and the bull trigger
  • RES 2: 170.65 0.618 proj of the May 3 - 15 - 16 price swing
  • RES 1: 169.94 High May 21
  • PRICE: 169.68 @ 06:50 BST May 22
  • SUP 1: 167.63 20-day EMA
  • SUP 2: 166.07 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.73 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY has recovered from last Thursday’s low and is trading higher this week. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial support at the 20-day EMA, at 167.63, remains intact. Key trendline support drawn from the Dec 7 ‘23 low, lies at 166.07. A clear break of this line would highlight a stronger reversal and initially expose support at the 50-day EMA, at 165.73.