Free Trial

Approaching Key Resistance

EURJPY TECHS
  • RES 4: 148.45 High Dec 15 2014
  • RES 3: 147.76 1.236 proj of the May 12 - Jun 28 - Aug 2 price swing
  • RES 2: 145.64 High Sep 12 and the bull trigger
  • RES 1: 145.13 High Sep 13
  • PRICE: 144.96 @ 06:34 BST Oct 17
  • SUP 1: 142.14/140.98 20-day EMA / 50-day EMA
  • SUP 2: 139.44/137.40 Low Sep 29 / 26 and key support
  • SUP 3: 136.02 Low Aug 25
  • SUP 4: 135.52 Low Aug 24

EURJPY has started the week on a firm note, extending its recovery from 140.90, Oct 10 high. The cross last week managed to remain above the 50-day EMA at 140.98 and this level marks a key support. Moving average studies highlight a broader uptrend and the continuation higher signals scope for further gains near-term. Sights are on 145.64, the Sep 12 high. On the downside, a clear break of the 50-day EMA would highlight a bearish threat.

To read the full story

Close

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.