Free Trial

Bulls Remains In The Driver’s Seat

EURJPY TECHS
  • RES 4: 150.00 Round number resistance
  • RES 3: 149.39 1.00 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 2: 148.40 High Oct 21 2022 and key resistance
  • RES 1: 147.86 High Apr 19
  • PRICE: 147.53 @ 06:55 BST Apr 24
  • SUP 1: 146.41/145.67 Low Apr 21 / High Mar 31
  • SUP 2: 145.58 20-day EMA
  • SUP 3: 144.21 50-day EMA
  • SUP 4: 142.55 Low Apr 6

EURJPY recovered from Friday’s low and the cross is trading closer to its recent highs. The uptrend remains intact - the cross cleared 145.67 on Apr 11, the Mar 31 high, to reinforce bullish conditions. A resumption of gains would open 148.40 next, the Oct 21 2022 high. Initial firm support lies at 145.58, the 20-day EMA. Short-term weakness would be considered corrective and a move lower would allow an overbought condition to unwind.

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.