Free Trial
AUSSIE BONDS

Tight Ranges In Play Ahead Of Long Weekend & RBA

JGBS AUCTION

3-Month Bill Auction Results

JGBS

Flattening Holds, Rinban Plans Eyed

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Hammer Candle Pattern Highlights A Reversal

EURJPY TECHS
  • RES 4: 139.41 High Jul 28
  • RES 3: 138.23 20-day EMA
  • RES 2: 136.87 Low Jul 8 and recent breakout level
  • RES 1: 136.42 High Aug 3
  • PRICE: 136.22 @ 06:48 BST Aug 4
  • SUP 1: 134.84/33.40 Low Aug 3 / 2
  • SUP 2: 132.66 Low May 12 and a key support
  • SUP 3: 131.99 61.8% retracement of the Mar 7 - Jun 28 bull leg
  • SUP 4: 130.72 Low Mar 17

EURJPY is holding on to its most recent gains having bounced from 133.40, Aug 2 low. The recovery highlights a potential hammer formation on Tuesday. If confirmed, this pattern would suggest a reversal of the recent downleg. A stronger bounce would open 138.23, the 20-day EMA. A resumption of weakness and a breach of Tuesday’s 133.40 low would resume the bear cycle and open 132.66, the May 12 low. Initial firm resistance is 136.87.

141 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 139.41 High Jul 28
  • RES 3: 138.23 20-day EMA
  • RES 2: 136.87 Low Jul 8 and recent breakout level
  • RES 1: 136.42 High Aug 3
  • PRICE: 136.22 @ 06:48 BST Aug 4
  • SUP 1: 134.84/33.40 Low Aug 3 / 2
  • SUP 2: 132.66 Low May 12 and a key support
  • SUP 3: 131.99 61.8% retracement of the Mar 7 - Jun 28 bull leg
  • SUP 4: 130.72 Low Mar 17

EURJPY is holding on to its most recent gains having bounced from 133.40, Aug 2 low. The recovery highlights a potential hammer formation on Tuesday. If confirmed, this pattern would suggest a reversal of the recent downleg. A stronger bounce would open 138.23, the 20-day EMA. A resumption of weakness and a breach of Tuesday’s 133.40 low would resume the bear cycle and open 132.66, the May 12 low. Initial firm resistance is 136.87.