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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

Breaks Through Channel Base

EURJPY TECHS
  • RES 4: 128.69 61.8% retracement of the 2018 - 2020 downtrend
  • RES 3: 127.88 0.618 projection of May - Jun rally from Oct 30 low
  • RES 2: 127.49/50 High Jan 7 / High Mar 1, 2019
  • RES 1: 126.87 High Jan 12
  • PRICE: 125.18 @ 05:15 GMT Jan 18
  • SUP 1: 125.17 1.0% 10-dma envelope
  • SUP 2: 125.13 High Nov 9
  • SUP 3: 124.89 3.0% Lower Bollinger Band
  • SUP 4: 100-DMA 124.80

EURJPY traded lower still Friday, extending the week's bearish tone and breaking south of the six-week channel base. The break lower is a bearish warning sign and highlights the potential for a short-term reversal. This opens support at 125.17/13. Key resistance and the bull trigger is at 127.49, a break would resume the uptrend.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com