Free Trial

Pierces Trendline Support

EURJPY TECHS
  • RES 4: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 3: 158.90 2.0% 10-dma envelope
  • RES 2: 158.72 2.00 proj of the May 11 - 29 - 31 price swing
  • RES 1: 156.89/158.05 High Jul 25 / 21
  • PRICE: 155.45 @ 07:00 BST Jul 27
  • SUP 1: 154.89 Intraday low
  • SUP 2: 153.79 50-day EMA
  • SUP 3: 153.49 Low Jul 12
  • SUP 4: 151.61 High May 2

EURJPY has traded lower again today, extending this week’s correction. S/T trend conditions are bullish. MA studies are in bull mode position highlighting a rising trend. Attention is on 158.00, Jun 28 high. It has been pierced, a clear break would confirm a resumption of the trend and open 158.72, a Fibonacci projection. Key trendline support, drawn from the Mar 24 low, is at 155.14. It has been pierced, a clear break would signal scope for a deeper pullback.

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.