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Still Below Last Weeks High

EURO-YEN TECHS
  • RES 4: 125.49 0.618 projection of the May 6 - Jun 5 from Jun 22 low
  • RES 3: 125.23 High May 1, 2019
  • RES 2: 124.96 2.0% 10-dma envelope
  • RES 1: 124.29/43 High Jul 22 / Jun 5 and key resistance
  • PRICE: 123.70 @ 16:57 BST Jul 27
  • SUP 1: 122.84 Low Jul 24
  • SUP 2: 122.47 Low Jul 21
  • SUP 3: 122.20 20-day EMA
  • SUP 4: 121.82 Low Jul 15 and 16

EURJPY last week found resistance at 124.29, Jul 22 high just ahead of the
primary resistance at 124.43, Jun 5 high. Friday saw key support at 123.06
probed before the cross found strong support at the day low of 122.84. A
close below 123.06 would signal a top and highlight the potential for a
deeper correction. For now, the current uptrend remains intact. Clearance
of 124.43 would trigger an extension higher.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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