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Trading Above Support

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 171.56 High Apr 29 and the bull trigger
  • RES 3: 170.82 2.0% 10-dma envelope
  • RES 2: 169.78 76.4% retracement of the Apr 29 - May 3 retracement
  • RES 1: 169.40 High May 14
  • PRICE: 169.17 @ 06:46 BST May 17
  • SUP 1: 166.99 20-day EMA
  • SUP 2: 165.74 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.26 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY has recovered from Thursday’s low. The medium-term trend structure remains bullish - for now - with sights on 171.56, Apr 29 high and key resistance. Initial resistance to watch is Wednesday’s 169.40 high and 169.78, a Fibonacci retracement. Support at the 20-day EMA, at t 166.99, remains intact. Key trendline support drawn from the Dec 7 ‘23 low, lies at 165.74. A clear break of this line would highlight a stronger reversal.

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  • RES 4: 171.56 High Apr 29 and the bull trigger
  • RES 3: 170.82 2.0% 10-dma envelope
  • RES 2: 169.78 76.4% retracement of the Apr 29 - May 3 retracement
  • RES 1: 169.40 High May 14
  • PRICE: 169.17 @ 06:46 BST May 17
  • SUP 1: 166.99 20-day EMA
  • SUP 2: 165.74 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 165.26 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY has recovered from Thursday’s low. The medium-term trend structure remains bullish - for now - with sights on 171.56, Apr 29 high and key resistance. Initial resistance to watch is Wednesday’s 169.40 high and 169.78, a Fibonacci retracement. Support at the 20-day EMA, at t 166.99, remains intact. Key trendline support drawn from the Dec 7 ‘23 low, lies at 165.74. A clear break of this line would highlight a stronger reversal.