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Watching Support

EURJPY TECHS
  • RES 4: 152.81 1.50 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 3: 152.00 1.382 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 2: 151.61 High May 2 and the bull trigger
  • RES 1: 150.20/151.07 High Jun 5 / May 29
  • PRICE: 149.73 @ 06:51 BST Jun 8
  • SUP 1: 148.59 Low May 31
  • SUP 2: 147.78/146.84 50-day EMA / 2.0% 10-dma envelope
  • SUP 3: 146.13 Low May 11 and a key support
  • SUP 4: 145.67 High Mar 31

EURJPY is consolidating and maintains a short-term bullish tone with initial support at 148.59, the May 31 low. Clearance of this level would expose a firmer support at the 50-day EMA, which intersects at 147.87. A clear break of the average is required to strengthen a bearish theme and would signal scope for a deeper pullback. On the upside, first resistance is at 150.20, the Jun 5 high, ahead of 151.07, the May 29 high.

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