Free Trial

Recovery Accelerates

EURJPY TECHS
  • RES 4: 132.67 76.4% retracement of the Jun - Sep downleg
  • RES 3: 132.23 High Jul 2
  • RES 2: 131.76 61.8% retracement of the Jun - Sep downleg
  • RES 1: 131.03 61.8% retracement of the Jun - Sep downleg
  • PRICE: 130.85 @ 14:34 BST Oct 11
  • SUP 1: 129.28 Intraday low
  • SUP 2: 128.33/31 Low Oct 6 / Low Sep 23
  • SUP 3: 127.94/93 Low Aug 19 / Low Sep 22 the bear trigger
  • SUP 4: 127.88 50.0% retracement of the Oct '20 - Jan rally

EURJPY has rallied today as the recent recovery accelerates. The reversal higher from last week's low of 128.33, low Oct 6 has reinstated a near-term bullish focus. The cross has probed resistance at 130.75, the Sep 3 high and a bull trigger. A clear break of this level would strengthen the case for bulls and open 131.76, 61.8% retracement of the Jun - Sep downleg. Initial support is at today's intraday low of 129.28.

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.