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Needle Still Points South

EURJPY TECHS
  • RES 4: 132.70 High Jun 23
  • RES 3: 132.43 High Jul 1 and a key resistance
  • RES 2: 131.09/50 High Jul 13 / 50-day EMA
  • RES 1: 130.43 High Jul 14
  • PRICE: 129.79 @ 17:28 BST Jul 19
  • SUP 1: 128.89 Low Jul 19
  • SUP 2: 128.83 Low Mar 29
  • SUP 3: 128.39 200-dma
  • SUP 4: 128.29 Low Mar 24 and key support

EURJPY traded through recent lows Monday, accelerating losses on the way toward the key downside support of the 128.39 200-dma. This strengthens the bearish theme and confirms a resumption of the current downtrend that started Jun 1. MA studies are in bear mode, reinforcing the bearish theme. On the upside, 131.09, Jul 13 high marks initial firm resistance.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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