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Remains Above Support

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 139.88 3.0% 10-dma envelope
  • RES 2: 140.93 0.50 proj of the Mar 7 - 28 - Apr 8 price swing
  • RES 1: 138.16/140.00 High May 6 / High Apr 21 and the bull trigger
  • PRICE: 137.82 @ 17:24 BST May 6
  • SUP 1: 134.79 Low Apr 27
  • SUP 2: 134.67/30 50-day EMA / Low Apr 5 and a key support
  • SUP 3: 132.95 Low Mar 24
  • SUP 4: 132.33 Low Mar 23

EURJPY remains in consolidation mode. The recent pullback is considered corrective and the trend direction is up. The cross is trading above key support highlighted by the 50-day EMA, The average intersects at 134.67, just above an important support at 134.30, Apr 5 low. While these supports hold, trend conditions remain bullish. Initial resistance is at 138.00, Apr 28 high. The bull trigger is unchanged at 140.00, Apr 21 high.

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

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