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Through Key Resistance

EURJPY TECHS
  • RES 4: 140.00 Round number resistance
  • RES 3: 139.38 0.382 proj of the Mar 7 - 28 - Apr 8 price swing
  • RES 2: 139.06 High Apr 19
  • RES 1: 139.00 2.0% 10-dma envelope
  • PRICE: 138.82 @ 15:45 BST Apr 19
  • SUP 1: 134.93/134.36 20-day EMA / Low Apr 8 and a key support
  • SUP 2: 133.94 Low Mar 28
  • SUP 3: 132.86 50-day EMA
  • SUP 4: 131.59 Low Mar 22

EURJPY traded well Tuesday, inching to a fresh cycle high of 139.06. This puts the cross well through its key short-term resistance of 137.50/53, the Feb 2 ‘18 high and Mar 28 high respectively. This confirms a resumption of the current bull cycle that started Mar 7. The move higher also confirms the end of the recent corrective phase. The focus is on 139.38, 0.382 proj of the Mar 7 - 28 - Apr 8 price swing. On the downside, key short-term trend support has been defined at 134.36, the Apr 8 low.

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

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