MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURJPY TECHS: Impulsive Sell-Off

EURJPY TECHS
Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegion
  • RES 4: 172.92 High Jul 16  
  • RES 3: 171.88 High Jul 19   
  • RES 2: 170.30 50-day EMA  
  • RES 1: 169.20 High Jul 24 
  • PRICE: 166.59 @ 15:33 BST Jul 26
  • SUP 1: 164.83 Low Jul 25
  • SUP 2: 164.33 50% retracement of the Dec 7 ‘23 - Jul 11 bull cycle 
  • SUP 4: 164.02 Low May 3
  • SUP 4: 163.02 Low Apr 19

The sharp sell-off in EURJPY this week reinforces the current bearish theme. Recent weakness has resulted in the break of a trendline drawn from Dec 7 low last year, and resulted in a move below the 50-day EMA. This paves the way for an extension towards 164.33 next, a Fibonacci retracement. On the upside, a key short-term resistance is seen at 170.30, the 50-day EMA. Initial resistance is 169.20, the Jul 24 high.

132 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: 172.92 High Jul 16  
  • RES 3: 171.88 High Jul 19   
  • RES 2: 170.30 50-day EMA  
  • RES 1: 169.20 High Jul 24 
  • PRICE: 166.59 @ 15:33 BST Jul 26
  • SUP 1: 164.83 Low Jul 25
  • SUP 2: 164.33 50% retracement of the Dec 7 ‘23 - Jul 11 bull cycle 
  • SUP 4: 164.02 Low May 3
  • SUP 4: 163.02 Low Apr 19

The sharp sell-off in EURJPY this week reinforces the current bearish theme. Recent weakness has resulted in the break of a trendline drawn from Dec 7 low last year, and resulted in a move below the 50-day EMA. This paves the way for an extension towards 164.33 next, a Fibonacci retracement. On the upside, a key short-term resistance is seen at 170.30, the 50-day EMA. Initial resistance is 169.20, the Jul 24 high.