Free Trial

Breaches Key Resistance

  • RES 4: 128.59 High Dec 17, 2018
  • RES 3: 128.39 High Dec 20. 2018
  • RES 2: 127.88 0.618 projection of May - Jun rally from Oct 30 low
  • RES 1: 127.61 Intraday high
  • PRICE: 127.59 @ 06:42 GMT Feb 15
  • SUP 1: 127.04 Low Dec 15
  • SUP 2: 126.57 20-day EMA
  • SUP 3: 126.10 Low Feb 4
  • SUP 4: 125.60 Low Jan 27

The EURJPY outlook remains bullish and the cross has traded above key resistance at 127.49, Jan 7 high. A clear break of this hurdle would confirm a resumption of the broader uptrend that has been in place since early May 2020. This would open 127.88 initially, a Fibonacci projection. On the downside, initial firm support is at 126.57, the 20-day EMA. Current trend support though lies at 126.10, Feb 4 low.

To read the full story



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.