MNI: Canada Mortgage Growth At Lowest Since 2001 At 3.3%

FED: POWELL TESTED POSITIVE FOR COVID-19, HAS SYMPTOMS

MNI China Daily Summary: Friday, May 17

MNI BRIEF: China Cities Must Ensure Housing Project Delivery

MNI BRIEF: PBOC Sets A New Tool To Bail Out Property Sector

MNI BRIEF: PBOC Abolishes Lower Housing Mortgage Limit

MNI: BAKER HUGHES US RIG COUNT 604; OIL RIGS 497; GAS RIGS 103

Canadians Buy Record CAD35.6B In Foreign Securities In March

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +14.4B CAD IN MAR

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Rally Exposes Key Short-Term Resistance

EURJPY TECHS
  • RES 4: 143.16 61.8% retracement of the Dec 15 - Jan 3 bear leg
  • RES 3: 142.86/94 High Jan 11 / High Dec 28 and key resistance
  • RES 2: 142.04 50-day EMA
  • RES 1: 141.69 Intraday high
  • PRICE: 139.01 @ 16:51 GMT Jan 18
  • SUP 1: 138.01 High Jan 13
  • SUP 2: 137.39 Low Jan 3 and the bear trigger
  • SUP 3: 137.03 Low Aug 29
  • SUP 4: 136.02 Low Aug 25

A strong rally in EURJPY has resulted in a retracement of the recent Jan 11 -13 bear leg, however largely faded ahead of the close. The cross has traded above the 20-day EMA and attention turns to the 50-day EMA, at 142.04. A clear break of this average is required to strengthen a bullish condition and this would highlight a potential reversal. Clearance of resistance at 142.86, the Jan 11 high, would also represent a positive development. The key support and bear trigger is 137.39, Jan 3 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.