EURJPY TECHS: Trend Outlook Remains Bullish

• RES 4: 175.43 High Jul 11 ‘24 and a key medium-term resistance  
• RES 3: 174.86 1.764 proj of the Feb 28 - Mar 18 - Apr 7 price swing
• RES 2: 173.43 High Jul 12 ‘24
• RES 1: 173.24 High Jul 15
• PRICE: 171.59 @ 15:56 BST Jul 22
• SUP 1: 171.37  Low Jul 22  
• SUP 2: 170.83 20-day EMA 
• SUP 3: 169.32 Low Jul 3   
• SUP 4: 168.07 50-day EMA   

The trend set-up in EURJPY is unchanged, it remains bullish. Fresh cycle highs last week reinforce current conditions. A price sequence of higher highs and higher lows highlights a dominant uptrend and note that moving average studies are in a bull-mode position. Sights are on 173.43, the Jul 12 ‘24 high. Support to watch lies at 170.83, the 20-day EMA. A move below this average would signal scope for a corrective pullback. 

• -5,000 SFRH6/0QH6 98.00 call spd 2.5 net credit, short March over at 1453:48ET

• Stocks remain mixed late Tuesday, S&P eminis back near steady vs. weaker Nasdaq index. Currently, the DJIA trades up 142.22 points (0.32%) at 44464.55, S&P E-Minis up 2.5 points (0.04%) at 6347.25, Nasdaq down 65.1 points (-0.3%) at 20909.01.
• Information Technology and Communication Services sector stocks continued to lead the late session declines, semiconductor makers weighing on IT: KLA Corp -4.66%, Lam Research -3.74%, Micron Technology -3.71%, Broadcom Inc -3.33%, Dell Technologies -3.21% and Super Micro Computer -3.03%.
• Interactive media and entertainment shares weighed on the Communications sector: Netflix -2.82%, Meta Platforms -1.21%, TKO Group Holdings -1.06% and Take-Two Interactive Software -0.86%.
• On the positive side, Health Care and Homebuilding sectors led gainers by midday: IQVIA Holdings surged 18.6% higher on strong earnings, Charles River Laboratories +8.49%, Quest Diagnostics +6.40%, Moderna +5.13%, Thermo Fisher Scientific +4.65% and Bio-Techne +4.48%.
• Also on strong earnings: DR Horton +15.93%, PulteGroup +10.68%, NVR Inc +7.37% and Lennar Corp +8.29%. Other leaders included Northrop Grumman +9.15%, Enphase Energy +7.00% and Albemarle  +6.73%..
• Earnings expected after today's close: Lockheed Martin Corp, Capital One Financial Corp, Texas Instruments Inc, EQT Corp, CoStar Group Inc, Intuitive Surgical Inc, Enphase Energy Inc, Pegasystems Inc, Range Resources Corp and Baker Hughes Co.