EUR/JPY: Bulls In Control, Weekly Ichimoku Cloud Top Eyed. Bulls remain in control following break above April resistance line with price action now nudging above the daily Bollinger band top and projected resistance line from June 21. From here, minor resistance is at Y106.13 and nothing significant until the weekly Ichomoku cloud top at Y106.75.
RES 4: Y108.03 High 20 Apr
RES 3: Y107.30/35 Res line from Oct 2009, 76.4% of Mar-July decline
RES 2: Y106.75 Weekly Ichimoku cloud top
RES 1: Y106.13 High 3 May
LATEST PRICE: Y105.75
SUP 1: Y104.59 High 23 Oct
SUP 2: Y103.69 Low 20 Nov
SUP 3: Y103.00 Kijun & Tenkan line of Ichimoku cloud
SUP 4: Y102.10/20 55-day & 200-day moving average
EasyForexNews Research Team