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Free AccessCorrective Down Cycle Still In Play
- RES 4: 146.74 High Dec 30, 2014
- RES 3: 145.00/58 Round number resistance / High Dec 31 2014
- RES 2: 144.58 0.764 proj of Mar 7 - 28 - Apr 5 swing
- RES 1: 142.86/144.28 High Jun 30/28 and the bull trigger
- PRICE: 139.18 @ 16:12 BST Jul 5
- SUP 1: 139.12 Low Jul 5
- SUP 2: 138.94 50-DMA
- SUP 3: 137.85 Low Jun 16 and key support
- SUP 4: 136.25 Low May 30
EURJPY traded lower last week following a reversal from 144.28, the Jun 28 high. Friday's weakness resulted in a clear break of the 20-day EMA as well as the 50-day EMA today and now markets target 138.94 and below for a deeper pullback. On the upside, an extension higher would refocus attention on the 144.28 bull trigger.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.