© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(RPT) MNI INTERVIEW: Financial Stress Could Be In Early Stage

(RPT) MNI INTERVIEW: ‘Most Dovish Hike’ Shows Fed Likely Done

(RPT)MNI INTERVIEW:Ex-FDIC Chair Downplays Bank Contagion Risk

MNI: JAPAN FEB SERVICES PRODUCER PRICE INDEX +1.8% Y/Y; JAN +1.6%

Coming up in the Asia-Pac session on Monday

EZ/UK Bond Supply Calendar: UK Long APF Sales on Monday

MNI BRIEF: Yellen Says Americans' Deposits Are Safe

MNI BRIEF: Italy ESM Ratification Framed In EU’s Fiscal Debate

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Bull Flag?

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 144.00 Round number resistance
  • RES 3: 143.16 61.8% retracement of the Dec 15 - Jan 3 bear leg
  • RES 2: 142.86/94 High Jan 11 / High Dec 28 and key resistance
  • RES 1: 142.30 High Jan 25
  • PRICE: 141.39 @ 16:39 GMT Jan 31
  • SUP 1: 140.47/137.92 Low Jan 23 / Low Jan 19
  • SUP 2: 137.39 Low Jan 3 and the bear trigger
  • SUP 3: 137.03 Low Aug 29
  • SUP 4: 136.02 Low Aug 25

EURJPY is holding on to the bulk of its latest gains. Recent consolidation appears to be a bull flag formation. If correct, the pattern suggests scope for a break higher near-term. The 50-day EMA, at 141.73, has been pierced. A clear break of this average would strengthen a bullish condition and expose key resistance at 142.86, the Jan 11 high. For bears, a reversal lower would refocus attention on the bear trigger at 137.39, Jan 3 low.

150 words

To read the full story

Why Subscribe to

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.
  • RES 4: 144.00 Round number resistance
  • RES 3: 143.16 61.8% retracement of the Dec 15 - Jan 3 bear leg
  • RES 2: 142.86/94 High Jan 11 / High Dec 28 and key resistance
  • RES 1: 142.30 High Jan 25
  • PRICE: 141.39 @ 16:39 GMT Jan 31
  • SUP 1: 140.47/137.92 Low Jan 23 / Low Jan 19
  • SUP 2: 137.39 Low Jan 3 and the bear trigger
  • SUP 3: 137.03 Low Aug 29
  • SUP 4: 136.02 Low Aug 25

EURJPY is holding on to the bulk of its latest gains. Recent consolidation appears to be a bull flag formation. If correct, the pattern suggests scope for a break higher near-term. The 50-day EMA, at 141.73, has been pierced. A clear break of this average would strengthen a bullish condition and expose key resistance at 142.86, the Jan 11 high. For bears, a reversal lower would refocus attention on the bear trigger at 137.39, Jan 3 low.