Free Trial

Bull Flag

EURJPY TECHS
  • RES 4: 147.75 High Oct 31
  • RES 3: 147.10 High Nov 9 2022
  • RES 2: 146.73 High Dec 15 and a key resistance
  • RES 1: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
  • PRICE: 144.67 @ 16:51 GMT Mar 8
  • SUP 1: 143.61 20-day EMA
  • SUP 2: 142.74/15 50-day EMA / Low Feb 24 and a key support
  • SUP 3: 141.52 Low Feb 14
  • SUP 4: 140.14 Low Feb 13

EURJPY remains in consolidation mode and the recent pause appears to be a bull flag. Trend conditions are bullish and fresh gains last week maintain the positive price sequence of higher highs and higher lows. Sights are on 145.80 the 76.4% retracement of the Oct 21 - Jan 3 bear leg and 146.73, the Dec 15 high. On the downside, key short-term support to watch has been defined at 142.15, Feb 24 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.