Free Trial

Heading South

EURJPY TECHS
  • RES 4: 139.41 High Jul 28
  • RES 3: 138.33 20-day EMA
  • RES 2: 136.87 Low Jul 8 and recent breakout level
  • RES 1: 135.23 Intraday high
  • PRICE: 134.11 @ 07:02 BST Aug 2
  • SUP 1: 133.93 Low May 19
  • 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: 1300.72 Low Mar 17

EURJPY is trading lower again and trend conditions remain bearish. Continued weakness reinforces the current bear cycle and marks an extension of last week’s breach of support at 136.87, the Jul 8 low. The break strengthened bearish conditions and has paved the way for a move towards 133.93 next, May 19 low, ahead of 132.66, the May 12 low. Initial firm resistance is seen at 136.87.

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.