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Technical Trend Signals Remain Bullish

EURJPY TECHS
  • RES 4: 152.00 1.382 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 3: 151.61 High May 2 and the bull trigger
  • RES 2: 150.39 High May 3
  • RES 1: 149.27 High May 8
  • PRICE: 148.15 @ 19:48 BST May 16
  • SUP 1: 146.14 50-day EMA
  • SUP 2: 145.67 High Mar 31
  • SUP 3: 145.55 2.0% 10-dma envelope
  • SUP 4: 144.88 Low Apr 11

EURJPY support at the 50-day EMA, which intersects at 146.14, remains intact. A clear break of this average is required to signal scope for a deeper pullback. Recent weakness is considered corrective and moving average studies continue to highlight an uptrend. A continuation higher would open 149.27 initially, the May 8 high. Key resistance has been defined at 151.61, the May 2 high.

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