Free Trial

Bull Cycle Remains In Play

EURJPY TECHS
  • RES 4: 166.46 1.236 proj of the Jan 2 - 19 - Feb 1 price swing
  • RES 3: 165.00 Round number resistance
  • RES 2: 164.30 High Nov 16 and a key medium-term resistance
  • RES 1: 163.72 High Nov 27 and Feb 26
  • PRICE: 163.20 @ 20:15 GMT Feb 27
  • SUP 1: 161.51 20-day EMA
  • SUP 2: 160.38 50-day EMA
  • SUP 3: 158.92 Low Feb 7
  • SUP 4: 158.08 Low Feb 1 and key support

EURJPY maintains a firmer tone and last week’s bullish extension, together with Monday’s climb, reinforces current conditions. Attention is on 163.72, the Nov 27 high (tested) ahead of key resistance at 164.30, the Nov 16 high. Key short-term support is unchanged at 158.08, Feb 1 low. A clear break of this level would highlight a reversal. Initial support to watch lies at 161.51, the 20-day EMA.

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.