With yen crosses getting hammered tonight EUR/JPY is currently heading towards the 21-DMA with a continuation lower that tests the 124.87-126.00 region looking more and more likely. Stops were triggered below the 127.80 level and the pair needs to close back above on an hourly basis to halt the current slide.
- R4: 129.99 – Hourly resistance Apr 23
- R3: 129.38 – Hourly resistance Apr 26
- R2: 128.49 – Hourly resistance Apr 26
- R1: 127.87 – Hourly resistance Apr 26
- PRICE: 127.29
- S1: 126.92 – 21 day moving average
- S2: 126.00 – Low Apr 16
- S3: 124.87 – Low Apr 15
- S4: 122.30 – Rising daily channel base
