MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

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: Southbound

EURJPY TECHS
Foreign Exchange Technical AnalysisCEEMEAForeign Exchange BulletsBulletAPACJapanMarkets
  • RES 4: 167.40 61.8% retracement of the Nov 11 - Aug 5 bear leg    
  • RES 3: 165.04/166.69 High Nov 15 / High Oct 31 and the bull trigger
  • RES 2: 164.76 High Nov 20 and a key short-term resistance 
  • RES 1: 160.71/162.58 High Nov 27 / 20-day EMA  
  • PRICE: 158.62 @ 16:01 GMT Nov 29
  • SUP 1: 158.15 Low Nov 29
  • SUP 2: 157.87 76.4% retracement of the Sep 16 - Oct 31 bull cycle 
  • SUP 3: 157.05 Low Sep 18
  • SUP 4: 155.15 Low Sep 16 and a key support 

EURJPY remains soft and the cross is again trading lower, today. The cross has cleared a number of retracement points and sights are on 157.87, the 76.4% retracement of the Sep 16 - Oct 31 bull cycle. A break of this level would strengthen a bearish theme and open 155.15, the Sep 16 low.  Initial firm resistance to watch is 162.58, the 20-day EMA. A breach of this EMA is required to signal a reversal.      

162 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: 167.40 61.8% retracement of the Nov 11 - Aug 5 bear leg    
  • RES 3: 165.04/166.69 High Nov 15 / High Oct 31 and the bull trigger
  • RES 2: 164.76 High Nov 20 and a key short-term resistance 
  • RES 1: 160.71/162.58 High Nov 27 / 20-day EMA  
  • PRICE: 158.62 @ 16:01 GMT Nov 29
  • SUP 1: 158.15 Low Nov 29
  • SUP 2: 157.87 76.4% retracement of the Sep 16 - Oct 31 bull cycle 
  • SUP 3: 157.05 Low Sep 18
  • SUP 4: 155.15 Low Sep 16 and a key support 

EURJPY remains soft and the cross is again trading lower, today. The cross has cleared a number of retracement points and sights are on 157.87, the 76.4% retracement of the Sep 16 - Oct 31 bull cycle. A break of this level would strengthen a bearish theme and open 155.15, the Sep 16 low.  Initial firm resistance to watch is 162.58, the 20-day EMA. A breach of this EMA is required to signal a reversal.