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Remains Above The May 12 Low

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 2: 138.32/140.00 High May 9 / High Apr 21 and the bull trigger
  • RES 1: 136.75 High May 12
  • PRICE: 135.25 @ 20:58 BST May 19
  • SUP 1: 133.75/132.66 Low May 16 / Low May 12 and the bear trigger
  • SUP 2: 132.51 100-dma
  • SUP 3: 132.20 50% retracement of the Mar 7 - Apr 21 bull phase
  • SUP 4: 131.59 Low Mar 22

EURJPY remains below Tuesday’s high of 136.69. Last week’s low of 132.66 on May 12, has been defined as the key short-term support. The recent recovery still threatens a previous bearish theme. A resumption of gains would open 138.32, the May 9 high and an important short-term resistance. On the downside, clearance of 132.66 is required to reinstate the threat of a deeper retracement.

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