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Free AccessBearish Risk Growing
- RES 4: 135.05 Bull channel top drawn off the Oct 30, 2020 low
- RES 3: 134.80 High Feb 8, 2018
- RES 2: 134.19 1.618 proj of Jun - Sep - Oct 2020 swing
- RES 1: 133.81/34.13 High Jun 4 / High Jun 1 and the bull trigger
- PRICE: 132.83 @ 16:28 BST Jun 11
- SUP 1: 132.81 Low Jun 11
- SUP 2: 132.52 Low May 24
- SUP 3: 131.99 50-day EMA
- SUP 4: 131.53 Bull channel base drawn off the Oct 30, 2020 low
EURJPY extended losses Friday, showing below the Monday low to touch 132.81. This extends the lower end of the recent range, and raises the risk of a further downside correction. Over-arching trend conditions remain bullish, however, and the recent pullback is likely a correction. Price touched a high of 134.13 on Jun 1 and the extension reinforces bullish conditions signalling scope for gains within the rising channel drawn off the Oct 30 2020 low. The channel top is at 135.05. Firm support lies at 132.52.
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Why MNI
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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.