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Sights Are On The 140.00 Handle

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.93 0.50 proj of the Mar 7 - 28 - Apr 8 price swing
  • RES 2: 140.00 Round number resistance
  • RES 1: 139.69 High Apr 20
  • PRICE: 139.05 @ 06:39 BST Apr 21
  • SUP 1: 137.53/36.87 High Mar 28 / Low Apr 19
  • SUP 2: 135.65 20-day EMA
  • SUP 3: 134.26 Low Apr 8 and a key support
  • SUP 4: 133.94 Low Mar 28

EURJPY trend conditions remain bullish and price is trading near its recent highs. The cross traded initially higher Wednesday, reaching 139.69 - another fresh cycle high. The recent breach of 137.50/53, the Feb 2 2018 and Mar 28 highs respectively, confirms a resumption of the current bull leg that started Mar 7. This also marked the end of the recent corrective phase. The focus is on 140.00 next. Initial firm support is at 135.65, the 20-day EMA.

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