EURJPY TECHS: Corrective Cycle

• RES 4: 187.95 High Apr 17 and the bull trigger   
• RES 3: 187.56 High Apr 30
• RES 2: 186.56 76.4% retracement of the Apr 17 - May 6 bear leg  
• RES 1: 185.86/186.32 High Jun 30 / High Jun 16 and 17
• PRICE: 184.59 @ 20:25 BST Jul 10
• SUP 1: 183.78/183.17 Low Jul 2 / Low Jun 24
• SUP 2: 182.05 Low May 06 and a bear trigger
• SUP 3: 181.87 Low Mar 16
• SUP 4: 180.81 Low Feb 12 and a key M/T support  

EURJPY resistance remains intact for now. Last week’s initial gains cancels a recent bearish threat and attention is on the key short-term resistance at 185.86, the Jun 30 high, and 186.32, the Jun 16 and 17 high. Clearance of both price points would be a bullish development. On the downside, support to watch lies at 183.17, the Jun 24 low. A break of this level would pave the way for an extension towards 182.05, the May 6 low.

• RES 4: 164.03 Top of a bull channel drawn from Feb 12 low 
• RES 3: 163.62 2.000 proj of the Jan 27 - Feb 9 - Feb 12 price swing
• RES 2: 163.00 Round number resistance
• RES 1: 162.84 High Jul 1 and the bull trigger
• PRICE: 161.73 @ 21:14 BST Jul 10
• SUP 1: 161.28 Low Jul 10
• SUP 2: 160.47 50-day EMA
• SUP 3: 159.58 Low Jun 11
• SUP 4: 158.74 Low May 25  

A bullish theme in USDJPY remains intact and - for now - the latest pullback is considered corrective. The key short-term resistance and the bull trigger to watch is 162.84, the Jun 1 high. A clear break of this hurdle would confirm a resumption of the uptrend and open 164.03, the top of a bull channel drawn from the Feb 12 low. Note that MA studies remain in a bull-mode position, highlighting a dominant uptrend. Key support is 160.39, the 50-day EMA.

• RES 4: 0.8694 High Jun 22 and a key resistance 
• RES 3: 0.8625 50-day EMA
• RES 2: 0.8590 20-day EMA 
• RES 1: 0.8575 High Jul 6 
• PRICE: 0.8521 @ 20:09 BST Jul 10
• SUP 1: 0.8508 Low Jun 27 ‘25
• SUP 2: 0.8494 Bear channel base drawn from the Nov 14 ‘25 high  
• SUP 3: 0.8468 61.8% retrace of the Dec 19 ‘24 - Nov 14 ‘25 bull leg
• SUP 4: 0.8407 Low Jun 4 ‘25   

EURGBP conditions remain bearish and a fresh cycle low last week strengthens the bear theme. A sharp sell-off recently resulted in a clear break of 0.8610, the Mar 16 low. The breach highlights an important M/T bearish development and paves the way for an extension towards 0.8508, the Jun 27 2025 low. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Initial firm resistance is at 0.8590, the 20-day EMA.