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Support Remains Intact

EURJPY TECHS
  • RES 4: 133.04 3% Upper Bollinger Band
  • RES 3: 132.56 High Nov 4
  • RES 2: 132.04 76.4% retracement of the Oct 20 - Dec 3 downleg
  • RES 1: 131.60 High Jan 5 and the bull trigger
  • PRICE: 131.13 @ 16:49 GMT Jan 11
  • SUP 1: 130.16 Low Jan 10
  • SUP 2: 130.09/129.81 20- and 50-day EMA levels
  • SUP 3: 129.20 Low Dec 27
  • SUP 4: 128.57 Low Dec 22

EURJPY pullbacks are still considered corrective and a bullish theme continues to dominate. The cross has recently cleared 131.15, 61.8% of the Oct - Dec bear leg and 131.20, a recent vol-based resistance, signalling potential for an extension higher. Attention is on 132.04, a Fibonacci retracement. A firm support zone is seen at 130.09/129.81, the 20- and 50-day EMA levels.

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

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