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Trades Above A S/T Trendline Resistance

  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9 and a key near-term resistance
  • RES 1: 146.75 High Nov 10
  • PRICE: 146.01 @ 07:05 GMT Nov 23
  • SUP 1: 144.09/42.57 50-day EMA / Low Nov 11 and the bear Trigger
  • SUP 2: 141.78 Low Oct 13
  • SUP 3: 140.90 Low Oct 10
  • SUP 4: 140.00 76.4% retracement of the Sep 26 - Oct 21 rally

EURJPY maintains a firmer short-term tone and continues to trade above 142.57, the Nov 10 low. Despite these gains, a bearish threat remains present, however, the cross continues to climb and price has breached a short-term trendline resistance at 145.91. The trendline is drawn from the Oct 21 high. The next key resistance to watch is 147.10, the Nov 9 high. On the downside, the bear trigger is at 142.57, the Nov 11 low.

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