Free Trial

Path Of Least Resistance Remains Up

EURJPY TECHS
  • RES 4: 163.10 High Aug 22 2008
  • RES 3: 162.80 1.00 proj of the Jul 28 - Aug 30 - Oct 3 price swing
  • RES 2: 162.00 Round number resistance
  • RES 1: 161.86 High Nov 10
  • PRICE: 161.61 @ 16:35 GMT Nov 10
  • SUP 1: 159.62/158.52 20- and 50-day EMA values
  • SUP 2: 157.70 Low Oct 30
  • SUP 3: 156.98 Low Oct 16
  • SUP 4: 155.83 Low Oct 4

EURJPY bulls remain in the driver’s seat and the cross is trading at its recent highs. Continued gains reinforce bullish conditions and maintain the positive price sequence of higher highs and higher lows. 162.80, a Fibonacci projection, marks the next objective. On the downside, key short-term support lies at 158.52, the 50-day EMA. A breach of this average is required to highlight a top. Initial support is at 159.62, the 20-day EMA.

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.