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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.

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  • 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.