Free Trial

Bearish Threat Remains Present

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
  • RES 1: 145.35 20-day EMA
  • PRICE: 143.72 @ 06:52 GMT Nov 14
  • SUP 1: 142.57 Low Nov 11
  • SUP 2: 141.78 Low Oct 13
  • SUP 3: 140.90 Low Oct 10
  • SUP 4: 140.00 76.4% retracement of the Sep 26 - Oct 21 rally

EURJPY reversed course last Thursday and this resulted in a breach of support at 143.80, the Oct 24 low and the 50-day EMA, currently at 143.79. A clear break of this area of support would signal potential for a deeper retracement and open 141.78, the Oct 13 low. On the upside, a reversal higher and a break of resistance at 147.10, the Nov 9 high would instead expose the bull trigger at 148.40, the Oct 21 high.

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.