Free Trial

Bearish Focus

EURJPY TECHS
  • RES 4: 132.43 High Jul 1
  • RES 3: 131.86 Jul 6 high
  • RES 2: 131.09/14 High Jul 13 / 50-day EMA
  • RES 1: 130.43 High Jul 14
  • PRICE: 130.06 @ 06:42 BST Jul 27
  • SUP 1: 128.60 Low Jul 20 and the bear trigger
  • SUP 2: 128.51 200-dma
  • SUP 3: 128.29 Low Mar 24 and key support
  • SUP 4: 127.88 38.2% retracement of the Oct '20 - Jun rally

The EURJPY trend condition remains bearish and recent gains are considered corrective. The focus is on the 200-dma at 128.54. A clear break of this average would reinforce the current bearish theme and signal scope for a continued depreciation. Note, momentum and moving average studies remain bearish. Potential is for a move to 127.88, 38.2% of the Oct '20 - Jun rally. 130.43, marks resistance.

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.