Free Trial

Bearish Outlook

EURJPY TECHS
  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9 and a key near-term resistance
  • RES 1: 146.14 High Nov 24
  • PRICE: 144.88 @ 15:53 GMT Nov 25
  • SUP 1: 143.35 Low Nov 14
  • SUP 2: 142.57 Low Nov 11 and the bear Trigger
  • SUP 3: 141.60 61.8% retracement of the Sep 26 - Oct 21 bull leg
  • SUP 4: 140.90 Low Oct 10

EURJPY remains below Wednesday’s high of 146.14. The cross has failed to confirm a clear break of short-term trendline resistance drawn from the Oct 21 high. Key near-term resistance at 141.10 also remains intact, Nov 9 high. This cements the underlying bearish threat, which holds as long as price remains below the short-term trendline resistance that intersects at 145.69 today. An extension lower would open the bear trigger at 142.57, Nov 11 low.

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.