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Sights Are On Key Resistance

EURJPY TECHS
  • RES 4: 149.46 1.382 proj of the May 12 - Jun 28 - Aug 2 price swing
  • RES 3: 148.88 High Dec 9 2014
  • RES 2: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 1: 147.75 High Oct 31
  • PRICE: 146.36 @ 15:55 GMT Nov 9
  • SUP 1: 145.61 20-day EMA
  • SUP 2: 144.04/143.80 Low Nov 3 / Oct 24 and key support
  • SUP 3: 143.68 50-day EMA
  • SUP 4: 141.78 Low Oct 13

EURJPY traded higher into the Wednesday close, but failed to rally through the Tuesday high. The cross found support on Nov 3 at 144.04. This leaves key support at 143.80, the Oct 24 low, intact. A break of this support is required to suggest scope for a deeper retracement and open 141.78, the Oct 13 low. A continuation higher would expose key resistance at 148.40, the Oct 21 high. Clearance of this hurdle would confirm a resumption of the uptrend that started Aug 2 and open 149.46, a Fibonacci retracement.

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

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