Free Trial

Recovery Extends

EURJPY TECHS
  • RES 4: 146.73 High Dec 15 and a key resistance
  • RES 3: 145.83 High Dec 20
  • RES 2: 143.45 50-day EMA
  • RES 1: 142.94 High Dec 28
  • PRICE: 142.75@ 19:29 GMT Dec 28
  • SUP 1: 141.14 Low Dec 27
  • SUP 2: 139.96 Low Dec 22
  • SUP 3: 138.81 Low Dec 20 and the bear trigger
  • SUP 4: 138.06 Low Sep 28

EURJPY traded higher Wednesday and this confirms an extension of the bounce from 138.81, the Dec 20 low. The recovery is considered corrective and the cross is approaching a key resistance at 143.45, the 50-day EMA. A clear break of this EMA would signal scope for a stronger recovery and highlight potential for a climb above the 144.00 handle. On the downside, a reversal lower would refocus attention on the 138.81 bear trigger.

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.