Free Trial

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

Bullish Focus

  • RES 4: 127.08 High Sep 1 and primary resistance
  • RES 3: 126.46 High Sep 10 and a key resistance
  • RES 2: 125.77 High Sep 15
  • RES 1: 125.09/28 High Oct 10 / 61.8% of the Sep 1 - 28 sell-off
  • PRICE: 124.69 @ 06:14 BST Oct 12
  • SUP 1: 124.23 20-day EMA
  • SUP 2: 123.86 Low Oct 6
  • SUP 3: 123.03 Low Sep 29 and Oct 2 and key near-term support
  • SUP 4: 122.38/28 Low Sep 28 / 61.8% of the Jun 22 - Sep 1 rally

EURJPY edged higher Friday. A bullish theme remains intact. The cross rallied sharply higher on Oct 5 extending the bounce off the Oct 2 low of 123.03. Furthermore, resistance at 124.25, Sep 30 high has recently been cleared and this paves the way for a climb towards 125.28 next, a Fibonacci retracement. Initial key support has been defined at 123.03, Oct 2 low. A break would neutralise the recent rally and expose 122.38 again.

To read the full story

Why Subscribe to


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.