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Uptrend Remains Intact

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 160.66 2.382 proj of the May 11 - 29 - 31 price swing
  • RES 3: 160.00 Psychological handle
  • RES 2: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 1: 159.76 High Aug 30 and the bull trigger
  • PRICE: 157.82 @ 06:49 BST Sep 8
  • SUP 1: 156.87 Low Aug 23
  • SUP 2: 156.75 50-day EMA
  • SUP 3: 155.11 Low Jul 31
  • SUP 4: 154.61 61.8% retracement of the Jul 28 - Aug 30 rally

The recent pullback in EURJPY is considered corrective and the trend outlook remains bullish. Key support to watch is the 50-day EMA - at 156.75. A clear breach of this EMA would undermine the uptrend and highlight a possible short-term reversal. The next bull trigger is 159.76, the Aug 30 high and a clear break of this level would confirm a resumption of the uptrend. This would open 160.62, a Fibonacci projection.

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  • RES 4: 160.66 2.382 proj of the May 11 - 29 - 31 price swing
  • RES 3: 160.00 Psychological handle
  • RES 2: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 1: 159.76 High Aug 30 and the bull trigger
  • PRICE: 157.82 @ 06:49 BST Sep 8
  • SUP 1: 156.87 Low Aug 23
  • SUP 2: 156.75 50-day EMA
  • SUP 3: 155.11 Low Jul 31
  • SUP 4: 154.61 61.8% retracement of the Jul 28 - Aug 30 rally

The recent pullback in EURJPY is considered corrective and the trend outlook remains bullish. Key support to watch is the 50-day EMA - at 156.75. A clear breach of this EMA would undermine the uptrend and highlight a possible short-term reversal. The next bull trigger is 159.76, the Aug 30 high and a clear break of this level would confirm a resumption of the uptrend. This would open 160.62, a Fibonacci projection.