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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.
EURJPY TECHS
- The technical pattern focus today is on EURJPY
- The broader outlook remains bullish. However, yesterday's price action highlights a potential short-term top and the possibility of a corrective pullback.
- In patterns terms, the focus is on a Japanese bearish engulfing reversal candle pattern.
- This highlights a short-term top and opens 127.04, Feb 15 low. A break of 127.04 would allow for a deeper pullback.
- Key resistance has been defined at 128.46. A break higher would negate the bearish pattern and resume the underlying uptrend.
- Note too that Tuesday's shooting star bearish candle pattern in EURUSD, is significant too. If both patterns in EURJPY and EURUSD result in short-term weakness this would suggest USDJPY consolidates near-term. The trend in USDJPY remains bullish and a consolidation would represent a pause in the uptrend.
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.
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