MNI: China CFETS Yuan Index Down 0.13% In Week of Dec 27

MNI: PBOC Net Drains CNY20.5 Bln via OMO Mon

MNI: PBOC Sets Yuan Parity Lower At 7.1889 Mon; -2.13% Y/Y

MNI China Daily Summary: Friday, December 27

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI: SPAIN DEC FLASH HICP +0.4% M/M, +2.8% Y/Y

MNI: SWISS KOF DEC ECONOMIC BAROMETER 99.5

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

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: Trend Structure Remains Bullish

EURJPY TECHS
Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegionMarkets
  • RES 4: 169.20 High Jul 24     
  • RES 3: 168.01 High Jul 26 
  • RES 2: 167.40 61.8% retracement of the Nov 11 - Aug 5 bear leg 
  • RES 1: 166.69 Intraday high 
  • PRICE: 165.60 @ 16:44 GMT Oct 31
  • SUP 1: 163.60 20-day EMA     
  • SUP 2: 161.85/161.01 Low Oct 17 / Low Oct 4
  • SUP 3: 158.11 Low Sep 30 
  • SUP 4: 157.05/155.15 Low Sep 18 / 16

A bullish theme in EURJPY remains intact and Wednesday’s fresh cycle high reinforces current conditions. Today’s move lower appears corrective and initial support to watch lies at 163.60, the 20-day EMA. Recent gains suggest scope for a climb towards 167.40, the 61.8% retracement of the Nov 11 - Aug 5 bear leg. Clearance of this level would strengthen a bullish theme and open 168.01, the Jul 26 high.  

132 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: 169.20 High Jul 24     
  • RES 3: 168.01 High Jul 26 
  • RES 2: 167.40 61.8% retracement of the Nov 11 - Aug 5 bear leg 
  • RES 1: 166.69 Intraday high 
  • PRICE: 165.60 @ 16:44 GMT Oct 31
  • SUP 1: 163.60 20-day EMA     
  • SUP 2: 161.85/161.01 Low Oct 17 / Low Oct 4
  • SUP 3: 158.11 Low Sep 30 
  • SUP 4: 157.05/155.15 Low Sep 18 / 16

A bullish theme in EURJPY remains intact and Wednesday’s fresh cycle high reinforces current conditions. Today’s move lower appears corrective and initial support to watch lies at 163.60, the 20-day EMA. Recent gains suggest scope for a climb towards 167.40, the 61.8% retracement of the Nov 11 - Aug 5 bear leg. Clearance of this level would strengthen a bullish theme and open 168.01, the Jul 26 high.