Free Trial

Impulsive Bull Run Extends

EURJPY TECHS
  • RES 4: 156.79 1.618 proj of the May 11 - 29 - 31 price swing
  • RES 3: 156.23 2.00 proj of the Mar 20 - 21 - Apr 6 price swing
  • RES 2: 155.59 1.382 proj of the May 11 - 29 - 31 price swing
  • RES 1: 155.26 High Jun 16
  • PRICE: 155.18 @ 19:23 BST Jun 16
  • SUP 1: 153.09/151.61 Low Jun 16 / 15
  • SUP 2: 150.19 20-day EMA
  • SUP 3: 148.56 50-day EMA
  • SUP 4: 147.61 Low May 16

EURJPY traded sharply higher again Friday, extending last week’s bull run. Price has cleared key resistance at 151.61, the May 2 high and an important bull trigger. This confirms a resumption of the longer-term uptrend and the focus is on a climb to 155.59 next, a Fibonacci projection. On the downside, initial firm support is seen at 150.19, the 20-day EMA. A break would signal a short-term top.

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.