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EURJPY TECHS: Support Remains Exposed 

EURJPY TECHS
Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegionMarkets
  • RES 4: 167.53 Low Jun 14  
  • RES 3: 163.99 200 DMA   
  • RES 2: 163.59 50-day EMA    
  • RES 1: 160.92/162.89 20-day EMA / High Sep 2
  • PRICE: 157.96 @ 07:17 BST Sep 10
  • SUP 1: 157.41 Low Sep 6
  • SUP 2: 156.65 76.4% retracement of the Aug 5 - 15 bull leg 
  • SUP 3: 154.42 Low Aug 5 and the bear trigger
  • SUP 4: 153.87 Low Dec 14 ‘23

EURJPY is unchanged. The trend outlook is bearish and last week’s sell-off reinforces this theme. Moving average studies remain in a bear-mode set-up, highlighting a dominant downtrend and sights are on 156.65, a Fibonacci retracement. Clearance of this level would open the key support and bear trigger at 154.42, the Aug 5 low. Initial firm resistance has been defined at 162.89, the Sep 2 high. First resistance is 160.92, the 20-day EMA.

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  • RES 4: 167.53 Low Jun 14  
  • RES 3: 163.99 200 DMA   
  • RES 2: 163.59 50-day EMA    
  • RES 1: 160.92/162.89 20-day EMA / High Sep 2
  • PRICE: 157.96 @ 07:17 BST Sep 10
  • SUP 1: 157.41 Low Sep 6
  • SUP 2: 156.65 76.4% retracement of the Aug 5 - 15 bull leg 
  • SUP 3: 154.42 Low Aug 5 and the bear trigger
  • SUP 4: 153.87 Low Dec 14 ‘23

EURJPY is unchanged. The trend outlook is bearish and last week’s sell-off reinforces this theme. Moving average studies remain in a bear-mode set-up, highlighting a dominant downtrend and sights are on 156.65, a Fibonacci retracement. Clearance of this level would open the key support and bear trigger at 154.42, the Aug 5 low. Initial firm resistance has been defined at 162.89, the Sep 2 high. First resistance is 160.92, the 20-day EMA.