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Trend Condition Remain Bullish

EURJPY TECHS
  • RES 4: 141.06 High Jun 4 2015 and a key resistance
  • RES 3: 140.98 3.0% 10-dma envelope
  • RES 2: 140.87 0.50 proj of the Mar 7 - 28 - Apr 5 price swing
  • RES 1: 138.32/140.00 High May 9 / High Apr 21 and the bull trigger
  • PRICE: 137.94 @ 06:46 BST May 10
  • SUP 1: 136.52 Low May 2
  • SUP 2: 134.67/30 50-day EMA / Low Apr 5 and a key support
  • SUP 3: 132.95 Low Mar 24
  • SUP 4: 132.33 Low Mar 23

EURJPY continues to consolidate and is holding on to its most recent gains. The recent pullback is considered corrective and the current trend direction is up. Key support highlighted by the 50-day EMA, remains intact. The average intersects at 134.90, just above a keyt support at 134.30, Apr 5 low. While these support levels hold, trend conditions remain bullish. The bull trigger is unchanged at 140.00, the Apr 21 high.

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