EURJPY TECHS: Corrective Pullback Extends
- 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: 149.25/150.39 High May 4 / 3
- PRICE: 148.28 @ 15:38 BST May 5
- SUP 1: 147.12 1.0% 10-dma envelope
- SUP 2: 146.92 Low Apr 28
- SUP 3: 146.29 Low Apr 25 and a key short-term support
- SUP 4: 145.60 50-day EMA
EURJPY corrected lower again Thursday and has pierced support at the 20-day EMA (at 147.53). A continuation lower would expose a key support at 146.29, the Apr 25 low, ahead of the 50-day EMA which intersects at 145.60. The move lower is considered corrective - trend signals continue to highlight an uptrend. Key resistance has been defined at 151.61, the May 2 high. Initial resistance is seen at 149.25, Thursday’s high.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GBPUSD TECHS: Bullish Following Range Breakout
- RES 4: 1.2667 High May 27 2022
- RES 3: 1.2599 High Jun 7 2022
- RES 2: 1.2584 2.0% 10-dma envelope
- RES 1: 1.2525 High Apr 4
- PRICE: 1.2461 @ 19:50 BST Apr 5
- SUP 1: 1.2395 Low Apr 4
- SUP 2: 1.2275/2260 Low Apr 3 / 20-day EMA
- SUP 3: 1.2191 Low Mar 24
- SUP 4: 1.2171 50-day EMA
GBPUSD maintains a bullish tone. The pair has breached a key resistance at 1.2448, the Jan 23 high and the top of a broad range that started December 14 2022. The breach represents an important short and medium-term break and signals the next stage of the uptrend that started on Sep 26 last year. The focus is on a climb towards 1.2584 next, the top of a MA envelope study. Support to watch lies at 1.2260, the 20-day EMA.
EURUSD TECHS: Bullish Theme Intact Despite Pullback
- RES 4: 1.1185 High Mar 31 2022
- RES 3: 1.1076 High Apr 1 2022
- RES 2: 1.1033 High Feb 2 and key resistance
- RES 1: 1.0973 High Apr 4
- PRICE: 1.0903 @ 19:42 BST Apr 5
- SUP 1: 1.0883/1.0788 Low Apr 4 / 33
- SUP 2: 1.0791 20-day EMA
- SUP 3: 1.0723 50-day EMA
- SUP 4: 1.0631 Low Mar 20
EURUSD maintains a firmer tone despite Wednesday's move lower. Price has this week breached resistance at 1.0930, the Mar 23 high. This level marked a key short-term hurdle for bulls and the clear break reinstates the recent bull theme and signals scope for 1.1033, the Feb 2 high. On the downside, support to watch lies at 1.0791 (20-day EMA) and 1.0723 (50-day EMA). A move through this support zone would be bearish.
US 10YR FUTURE TECHS: Approaching Key Resistance
- RES 4: 117-29+ High Aug 26 2022 (cont)
- RES 3: 117-14+ High Aug 29 / 30 2022 (cont)
- RES 2: 117-01+ High Mar 24 and bull trigger
- RES 1: 116-30 Intraday high
- PRICE: 116-17+ @ 19:28 BST Apr 5
- SUP 1: 115-29/115-02+ Intraday low / Low Apr 4
- SUP 2: 114-18+/07 20-day EMA / Low Mar 29 and 30
- SUP 3: 114-00+ 50-day EMA
- SUP 4: 113-26 Low Mar 22
Treasury futures have traded higher again today, as the contract extends the recovery from last week’s low. The strong bounce undermines recent bearish signals and price has cleared resistance at 116-06+, the Mar 27 high. The continuation higher exposes 117-01+, the Mar 24 high and a key short-term resistance. A break would strengthen bullish conditions and open 117-14+, the Aug 29/30 2022 high (cont). Key support is at 114-07, the Mar 29/30 low.
