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Through Trendline Resistance

EURJPY TECHS
  • RES 4: 141.49 1.236 pro of the Aug 2 - 10 - 16 price swing
  • RES 3: 140.69 High Jul 22
  • RES 2: 140.26 2.0% 10-dma envelope
  • RES 1: 140.00 High Sep 1
  • PRICE: 138.96 @ 15:44 BST Sep 1
  • SUP 1: 137.96 50-day EMA
  • SUP 2: 137.03 Low Aug 29
  • SUP 3: 136.02 Low Aug 25
  • SUP 4: 135.52 Low Aug 24

EURJPY initially traded higher Thursday. The climb resulted in the break of a key resistance at 138.98, a trendline drawn from the Jun 28 high. This strengthens bullish conditions and highlights a stronger reversal from the Aug 2 low. The break opens 140.26, 2.0% 10-dma envelope. Further out, potential is seen for a climb towards 142.32, the Jul 21 high. Initial support is seen at 137.7.96, the 50-day EMA.

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