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EURJPY TECHS: Trades Through Support

EURJPY TECHS
Foreign Exchange Technical AnalysisCEEMEAForeign Exchange BulletsBulletAPACJapanMarkets
  • RES 4: 164.90 THigh Dec 30 and a key short-term resistance 
  • RES 3: 164.55 High Jan 7   
  • RES 2: 163.43 High Jan 9 
  • RES 1: 162.55 20-day EMA
  • PRICE: 160.89 @ 08:03 GMT Jan 13 
  • SUP 1: 160.65 Intraday low    
  • SUP 2: 160.54 50.0% retracement of the Dec 3 - 30 bull cycle   
  • SUP 3: 159.51 61.8% retracement of the Dec 3 - 30 bull cycle
  • SUP 4: 158.67 Low Dec 11

The recent move down in EURJPY appears corrective, however the cross is again trading lower, today, and this has resulted in a breach of initial support at 160.91, the Jan 2 low. The next support to watch is 160.54, 50.0% of the Dec 3 - 30 bull cycle. The 61.8% level is at 159.51. A reversal higher would signal the end of the corrective cycle and refocus attention on 164.90, the Dec 30 high.

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  • RES 4: 164.90 THigh Dec 30 and a key short-term resistance 
  • RES 3: 164.55 High Jan 7   
  • RES 2: 163.43 High Jan 9 
  • RES 1: 162.55 20-day EMA
  • PRICE: 160.89 @ 08:03 GMT Jan 13 
  • SUP 1: 160.65 Intraday low    
  • SUP 2: 160.54 50.0% retracement of the Dec 3 - 30 bull cycle   
  • SUP 3: 159.51 61.8% retracement of the Dec 3 - 30 bull cycle
  • SUP 4: 158.67 Low Dec 11

The recent move down in EURJPY appears corrective, however the cross is again trading lower, today, and this has resulted in a breach of initial support at 160.91, the Jan 2 low. The next support to watch is 160.54, 50.0% of the Dec 3 - 30 bull cycle. The 61.8% level is at 159.51. A reversal higher would signal the end of the corrective cycle and refocus attention on 164.90, the Dec 30 high.