Free Trial

Bullish Extension

EURJPY TECHS
  • RES 4: 157.84 2.236 proj of the Mar 20 - 31 - Apr 6 price swing
  • RES 3: 157.53 1.764 proj of the May 11 - 29 - 31 price swing
  • RES 2: 156.79 1.618 proj of the May 11 - 29 - 31 price swing
  • RES 1: 156.62 High Jun 22
  • PRICE: 156.16 @ 16:49 BST Jun 22
  • SUP 1: 154.05 Low Jun 20
  • SUP 2: 153.09 Low Jun 16
  • SUP 3: 151.84 20-day EMA
  • SUP 4: 150.92 Low Jun 14

EURJPY traded higher Thursday, once again confirming a resumption of the current uptrend. The move strengthens bullish conditions and extends last week’s impulsive rally. Price has recently cleared key resistance at 151.61, the May 2 high and an important bull trigger. This confirmed a resumption of the longer-term uptrend and the focus on 156.79 next, a Fibonacci projection. Initial key support is seen at 151.84, the 20-day EMA.

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.