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Breaches Key Short-Term Support

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: 145.54 20-day EMA
  • PRICE: 143.60 @ 15:52 GMT Nov 11
  • 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 Thursday and this resulted in a break of support at 143.80, the Oct 24 low and 50-day EMA. The clear break of this area of support signals potential for a deeper retracement and opens 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 cancel any bearish threat and expose the bull trigger at 148.40, the Oct 21 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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