Free Trial

EURJPY TECHS: Corrective Bounces Ends, Turns Lower

EURJPY TECHS
  • RES 4: 163.89 High Aug 5 and a reversal trigger   
  • RES 3: 162.89 High Sep 2 and a key resistance  
  • RES 2: 161.85 High Sep 26   
  • RES 1: 161.69 50-day EMA 
  • PRICE: 159.36 @ 15:20 BST Sep 27
  • SUP 1: 157.05/155.15 Low Sep 18 / Low Sep 16  
  • SUP 2: 154.42 Low Aug 5 and the bear trigger
  • SUP 3: 154.00 Round number support 
  • SUP 4: 153.87 Low Dec 14 ‘23

A bear cycle in EURJPY remains intact and the recovery across the first half of the week is considered corrective. Moving average studies are in a bear-mode position and this continues to highlight a dominant downtrend. The subsequent reversal lower refocuses attention on the key support at 154.42, the Aug 5 low.

120 words

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.
  • RES 4: 163.89 High Aug 5 and a reversal trigger   
  • RES 3: 162.89 High Sep 2 and a key resistance  
  • RES 2: 161.85 High Sep 26   
  • RES 1: 161.69 50-day EMA 
  • PRICE: 159.36 @ 15:20 BST Sep 27
  • SUP 1: 157.05/155.15 Low Sep 18 / Low Sep 16  
  • SUP 2: 154.42 Low Aug 5 and the bear trigger
  • SUP 3: 154.00 Round number support 
  • SUP 4: 153.87 Low Dec 14 ‘23

A bear cycle in EURJPY remains intact and the recovery across the first half of the week is considered corrective. Moving average studies are in a bear-mode position and this continues to highlight a dominant downtrend. The subsequent reversal lower refocuses attention on the key support at 154.42, the Aug 5 low.