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EURJPY TECHS: Resistance Remains Intact 

EURJPY TECHS
Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegionMarkets
  • RES 4: 167.53 Low Jun 14  
  • RES 3: 164.61 50-day EMA   
  • RES 2: 164.05 200 DMA      
  • RES 1: 162.24/89 20-day EMA / High Sep 2
  • PRICE: 161.84 @ 07:05 BST Sep 3
  • SUP 1: 160.03 Low Aug 29   
  • SUP 2: 157.30/154.42 Low Aug 6 / 5 and the bear trigger
  • SUP 3: 153.87 Low Dec 14 ‘23
  • SUP 4: 153.23 Low Dec 7 ‘23 and a key support

The trend outlook in EURJPY is unchanged and it remains bearish,  reinforced by moving average studies that are in a bear-mode set-up. The recovery in August has allowed an oversold condition to unwind. The cross has pierced the 20-day EMA, at 162.24,  but this resistance remains intact. A clear break of it would expose the 50-day EMA, at 164.61. For bears, a stronger reversal lower would open 154.42, the Aug 5 low.

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  • RES 4: 167.53 Low Jun 14  
  • RES 3: 164.61 50-day EMA   
  • RES 2: 164.05 200 DMA      
  • RES 1: 162.24/89 20-day EMA / High Sep 2
  • PRICE: 161.84 @ 07:05 BST Sep 3
  • SUP 1: 160.03 Low Aug 29   
  • SUP 2: 157.30/154.42 Low Aug 6 / 5 and the bear trigger
  • SUP 3: 153.87 Low Dec 14 ‘23
  • SUP 4: 153.23 Low Dec 7 ‘23 and a key support

The trend outlook in EURJPY is unchanged and it remains bearish,  reinforced by moving average studies that are in a bear-mode set-up. The recovery in August has allowed an oversold condition to unwind. The cross has pierced the 20-day EMA, at 162.24,  but this resistance remains intact. A clear break of it would expose the 50-day EMA, at 164.61. For bears, a stronger reversal lower would open 154.42, the Aug 5 low.