Trial now
AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Bullish Argument Down, But Not Out

EURGBP TECHS

Attention Is On Resistance

EQUITIES

Stocks Higher as Stimulus Here to Stay

Holding Onto Recent Gains

EURJPY TECHS
  • RES 4: 127.88 0.618 projection of May - Jun rally from Oct 30 low
  • RES 3: 127.49/50 High Jan 7 / High Mar 1, 2019
  • RES 2: 126.87 High Jan 12
  • RES 1: 126.40 High Jan 19
  • PRICE: 125.90 @ 16:27 GMT Jan 25
  • SUP 1: 125.75 50-day EMA
  • SUP 2: 125.09 Low Jan 18
  • SUP 3: 124.80 100-DMA
  • SUP 4: 124.56 50% retracement of the November - January Rally

EURJPY is holding onto last week's gains. Attention remains on the Jan 19 recovery. In patterns terms, price action on this day is a bullish engulfing candle. If correct, it signals a potential reversal. More importantly, it also suggests the end of the recent corrective pullback from 127.49, Jan 7 high. The breach of 126.21, Jan 19 high opens 126.87, Jan 13 high. Sub 125.09 levels would negate the candle pattern and resume the downtrend.