Short-Term Outlook Remains Bearish

• RES 4: 152.81 1.50 proj of the Mar 20 - 21 - Apr 6 price swing
• RES 3: 152.00 1.382 proj of the Mar 20 - 21 - Apr 6 price swing
• RES 2: 151.61 High May 2 and the bull trigger
• RES 1: 149.27/150.39 High May 8 / 3
• PRICE: 146.67 @ 16:28 BST May 11
• SUP 1: 146.13 Low May 11
• SUP 2: 145.98 50-day EMA
• SUP 3: 145.80 2.0% 10-dma envelope
• SUP 4: 145.67 High Mar 31

The Recent move lower in EURJPY resulted in a print below the 20-day EMA, currently at 147.74 and S/T trend conditions are bearish. A continuation lower and a clear break of this average would expose key support at 145.80, the 2.0% 10-dma envelope, as well as the 50-day EMA at 145.98. The move lower is considered corrective and trend signals highlight an uptrend. Key resistance is at 151.61, May 2 high. Initial resistance is 149.27, Monday’s high.