Free Trial

Remains Above Support

EURJPY TECHS
  • RES 4: 133.17 3% Upper Bollinger Band
  • RES 3: 132.56 High Nov 4
  • RES 2: 132.04 76.4% retracement of the Oct 20 - Dec 3 downleg
  • RES 1: 131.60 High Jan 5 and the bull trigger
  • PRICE: 130.12 @ 17:20 GMT Jan 14
  • SUP 1: 129.94 50-day EMA
  • SUP 2: 129.78 Low Jan 14
  • SUP 3: 129.20 Low Dec 27
  • SUP 4: 128.57 Low Dec 22

A bullish EURJPY theme remains in place although for now, the cross appears to be consolidating. The recent break of 131.15, 61.8% of the Oct - Dec bear leg reinforced bullish conditions. The moving average set-up has also recently shifted to bull mode. Attention is on 132.04, a Fibonacci retracement. Firm support has been defined at 130.16, Jan 10 low. The 50-day EMA support has been tested, but holds for now at 129.94.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.