MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EURJPY TECHS: Moving Average Studies Highlight A Dominant Downtrend

EURJPY TECHS
Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegionMarkets
  • RES 4: 166.53 High Jul 31   
  • RES 3: 165.00 Round number resistance  
  • RES 2: 163.89 High Aug 15 and a reversal trigger   
  • RES 1: 161.51/163.49 50-day EMA / High Sep 27  
  • PRICE: 158.90 @ 16:16 BST Oct 1
  • SUP 1: 158.11/155.15 Low Sep 30 / 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 Friday’s strong sell-off reinforces this theme. It also signals the end of the recent corrective cycle. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. A continuation lower would open 155.15, the Sep 16 low, and 154.42, the Aug 5 low and a bear trigger. Key short-term resistance has been defined at 163.49, the Sep 27 high, and 163.89, the Aug 15 high. 

142 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: 166.53 High Jul 31   
  • RES 3: 165.00 Round number resistance  
  • RES 2: 163.89 High Aug 15 and a reversal trigger   
  • RES 1: 161.51/163.49 50-day EMA / High Sep 27  
  • PRICE: 158.90 @ 16:16 BST Oct 1
  • SUP 1: 158.11/155.15 Low Sep 30 / 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 Friday’s strong sell-off reinforces this theme. It also signals the end of the recent corrective cycle. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. A continuation lower would open 155.15, the Sep 16 low, and 154.42, the Aug 5 low and a bear trigger. Key short-term resistance has been defined at 163.49, the Sep 27 high, and 163.89, the Aug 15 high.