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Remains Bearish Despite Yesterday's Bounce

  • RES 4: 132.92/133.48 High Oct 29 / High Oct 20
  • RES 3: 132.56 High Nov 4
  • RES 2: 130.73/131.76 50-day EMA / 20-day EMA
  • RES 1: 130.12 High Nov 16
  • PRICE: 129.82 @ 06:30 GMT Nov 19
  • SUP 1: 129.04 Low Nov 17
  • SUP 2: 128.63 Low Oct 7
  • SUP 3: 128.33 Low Oct 6
  • SUP 4: 127.93 Low Sep 22 and a key support

EURJPY remains bearish despite yesterday's bounce. The cross remains below its 50- and 20-day EMAs - the recent breach of these averages strengthened a bearish case. Price has also cleared 129.24, 76.4% of the Sep 22 - Oct 20 rally. This opens 128.33, Oct 6 low ahead of a key support at 127.93, Sep 22 low. Resistance is at 130.73, the 20-day EMA and 130.76, the 50-day EMA. A break of this zone is required to signal a base.

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