Free Trial

Bull Cycle Extends

EURJPY TECHS
  • RES 4: 134.23 3.0% Upper Bollinger Band
  • RES 3: 134.13 High June 2021
  • RES 2: 133.48 High Oct 20 and a key resistance / 2.0% 10-dma envelope
  • RES 1: 133.15 High Feb 10
  • PRICE: 133.02 @ 18:12 GMT Feb 10
  • SUP 1: 131.26/130.38 Low Feb 7 / 50.0% of the Feb 3 large range
  • SUP 2: 129.19 Low Feb 3
  • SUP 3: 128.25 Low Jan 25 and a key short-term support
  • SUP 4: 127.39 Low Dec 6 and a major support

EURJPY added to the recent rally Thursday, rising through nearby support to print a new 2022 high of 133.15. This keeps the cross in bull mode following the strong impulsive rally on Feb 3, and extends the recent bull cycle initiated in early December. The focus is on 133.48 next, the October 2021 high. Initial support is seen at 131.26/130.38, the Feb 7 low and 50.0% of the Feb 3 range.

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.