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Support Remains Exposed

EURJPY TECHS
  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9
  • RES 1: 146.13 Trendline resistance drawn from the Oct 21 high
  • PRICE: 144.60 @ 06:48 GMT Nov 21
  • SUP 1: 143.97/42.57 50-day EMA / Low Nov 11 and the bear Trigger
  • SUP 2: 141.78 Low Oct 13
  • SUP 3: 140.90 Low Oct 10
  • SUP 4: 140.00 76.4% retracement of the Sep 26 - Oct 21 rally

EURJPY remains above 142.57, the Nov 10 low. A bearish threat remains present. Recent weakness resulted in a break of support at 143.80, the Oct 24 low and price pierced the 50-day EMA. A continuation lower would open 141.60, a Fibonacci retracement. On the upside, clearance of resistance at 147.10, the Nov 9 high, would instead expose the bull trigger at 148.40, the Oct 21 high.

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