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Still Climbing

EURJPY TECHS
  • RES 4: 134.40 2.382 proj of the Sep 22 - 29 - Oct 6 price swing
  • RES 3: 134.13 High Jun 1 and a key resistance
  • RES 2: 133.68 High Jun 15
  • RES 1: 133.02 Intraday high
  • PRICE: 132.97 @ 06:43 BST Oct 19
  • SUP 1: 131.81/27 Low Oct 15 / Low Oct 14
  • SUP 2: 130.75 Sep 3 high
  • SUP 3: 130.04 50-day EMA
  • SUP 4: 129.28 Low Oct 11

EURJPY maintains a bullish tone and is firmer today. The move higher confirms an extension of the upleg that started at 128.33, the Oct 6 low. The cross has recently cleared 130.75, Sep 3 high and a recent bull trigger. This strengthened the case for bulls and the breach of a number of key short-term resistance points above 130.75 reinforces the current positive outlook. The focus is on 133.68 next, Jun 15 high. Initial firm support is at 130.75.

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