Free Trial

Needle Still Points South

EURJPY TECHS
  • RES 4: 131.09 High Jul 13
  • RES 3: 130.56 High Jul 29
  • RES 2: 129.71/130.01 High Aug 16 / High Aug 5
  • RES 1: 129.14 Low Aug 8 / High Aug 23
  • PRICE: 128.86 @ 06:28 BST Aug 25
  • SUP 1: 127.94 Low Aug 19
  • SUP 2: 127.88 38.2% retracement of the Oct '20 - Jun rally
  • SUP 3: 127.31 Low Feb 17
  • SUP 4: 126.44 Low Feb 9

EURJPY trend conditions remain bearish. Last week's key technical development was the break of 128.60, Jul 20 low. This confirmed a resumption of the current downtrend paving the way for an extension of the bearish cycle. Note too that the move lower also confirmed a clear breach of the 200-dma. Attention is on 127.88, 38.2% of the Oct '20 - Jun rally. Initial firm resistance is at 129.71.

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.