Free Trial

Holding Onto Recent Gains

EURJPY TECHS
  • RES 4: 132.67 76.4% retracement of the Jun - Sep downleg
  • RES 3: 132.23 High Jul 2
  • RES 2: 131.76 61.8% retracement of the Jun - Sep downleg
  • RES 1: 131.28 High Oct 12
  • PRICE: 131.09 @ 06:40 BST Oct 13
  • SUP 1: 130.26 50.0% of the Oct 11 range
  • SUP 2: 129.28 Low Oct 11
  • SUP 3: 128.33/31 Low Oct 6 / Low Sep 23
  • SUP 4: 127.94/93 Low Aug 19 / Low Sep 22 the bear trigger

EURJPY is holding onto this week's gains. The reversal higher from last week's low of 128.33 on Oct 6 has reinstated a near-term bullish focus and the cross has cleared resistance at 130.75, Sep 3 high and a bull trigger. This has strengthened the case for bulls and opens 131.76, the 61.8% retracement of the Jun - Sep downleg. Initial firm support is at Monday's intraday low of 129.28.

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.