Free Trial

EURJPY TECHS: Resistance Remains Intact

EURJPY TECHS
  • 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: 160.64 @ 15:38 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.  

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.