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The 144.25 Bull Trigger Remains Exposed

EURJPY TECHS
  • RES 4: 146.74 High Dec 30, 2014
  • RES 3: 145.00/58 Round number resistance / High Dec 31 2014
  • RES 2: 144.58 0.764 proj of Mar 7 - 28 - Apr 5 swing
  • RES 1: 144.25 High Jun 8 and the bull trigger
  • PRICE: 143.29 @ 06:56 BST Jun 23
  • SUP 1: 140.62 20-day EMA
  • SUP 2: 138.29/37.85 50-day EMA and key support / Low Jun 16
  • SUP 3: 136.25 Low May 30
  • SUP 4: 134.99 Low May 25

EURJPY maintains a bullish outlook following this week’s gains and the extension of the bull run from 137.85, Jun 16 low. This has exposed the bull trigger at 144.25, Jun 8 high. Clearance of this hurdle would confirm a resumption of the primary uptrend and open the 145.00 handle. Moving average studies remain in bull mode, clearly highlighting current bullish sentiment. Initial firm support is seen at 140.62, the 20-day EMA.

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