MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Approaching Key Resistance

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 172.89 2.0% 10-dma envelope
  • RES 3: 192.00 Round number resistance
  • RES 2: 171.56 High Apr 29 and the bull trigger
  • RES 1: 170.74 High May 28
  • PRICE: 170.70 @ 16:35 BST May 28
  • SUP 1: 168.42 20-day EMA
  • SUP 2: 166.51 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 166.37 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY maintains a firmer short-term tone and is holding on to its recent gains. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial support lies at the 20-day EMA, at 168.42, and remains intact. Key trendline support drawn from the Dec 7 ‘23 low, is at 166.51. A clear breach of this line would instead highlight a stronger reversal and initially expose support at the 50-day EMA, at 166.37.

139 words

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.
  • RES 4: 172.89 2.0% 10-dma envelope
  • RES 3: 192.00 Round number resistance
  • RES 2: 171.56 High Apr 29 and the bull trigger
  • RES 1: 170.74 High May 28
  • PRICE: 170.70 @ 16:35 BST May 28
  • SUP 1: 168.42 20-day EMA
  • SUP 2: 166.51 Trendline support drawn from the Dec 7 ‘23 low
  • SUP 3: 166.37 50-day EMA
  • SUP 4: 164.02 Low May 3

EURJPY maintains a firmer short-term tone and is holding on to its recent gains. The medium-term trend structure is bullish and sights are on 171.56, the Apr 29 high and key resistance. Initial support lies at the 20-day EMA, at 168.42, and remains intact. Key trendline support drawn from the Dec 7 ‘23 low, is at 166.51. A clear breach of this line would instead highlight a stronger reversal and initially expose support at the 50-day EMA, at 166.37.