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Short-Term Trend Needle Points South

EURJPY TECHS
  • RES 4: 132.56/58 High Nov 4 / 3% Upper Bollinger Band
  • RES 3: 132.04 76.4% retracement of the Oct 20 - Dec 3 downleg
  • RES 2: 131.60 High Jan 5 and the bull trigger
  • RES 1: 129.94/131.18 20-day EMA / High Jan 18
  • PRICE: 128.49 @ 17:26 GMT Jan 25
  • SUP 1: 128.25 Low Jan 25
  • SUP 2: 128.05 Low Dec 21
  • SUP 3: 127.39 Low Dec 6 and a major support
  • SUP 4: 127.04 Low Feb 15, 2021

EURJPY remains under pressure having failed to hold onto recent highs. The continued move lower threatens the recent bullish theme and the cross remains below its 50-day EMA. Price is approaching 128.38, a Fibonacci retracement, where a break would expose 127.39, the Dec 6 low and a key support. Key short-term resistance has been defined at 131.60, Jan 5 high. Initial resistance though is at 129.94, the 20-day EMA.

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

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