Free Trial

Maintains Its Current Bullish Form

EURJPY TECHS
  • RES 4: 137.50 High Feb 2 2018 and a major resistance
  • RES 3: 135.33 3.0% 10-dma envelope
  • RES 2: 135.85 High Feb 7 2018
  • RES 1: 135.21 123.6% retracement of the Feb 10 - Mar 7 downleg
  • PRICE: 134.81 @ 06:41 GMT Mar 28
  • SUP 1: 132.95/33 Low Mar 24 / 23
  • SUP 2: 130.98 20-day EMA
  • SUP 3: 130.23 50-day EMA
  • SUP 4: 129.27 Low Mar 15

EURJPY has traded to a fresh trend high today, resuming its current uptrend and maintains its current bullish form. The cross cleared a key resistance last week at 134.13, the Jun 1 2021 high. This strengthens the bullish condition and attention is on the Feb 7 2018 high of 135.85 and the 3.0% 10-dma envelope at 135.95. The RSI is approaching overbought territory for the first time since early February. Initial firm support is seen at 132.33, Mar 23 low.

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.