Free Trial

Remains Below Key Short-Term Resistance

EURJPY TECHS
  • RES 4: 140.07 High Jul 25
  • RES 3: 139.21 Trendline resistance drawn from the Jun 28 high
  • RES 2: 138.40 High Aug 10 and key short-term resistance
  • RES 1: 137.81 50-day EMA
  • PRICE: 137.76 @ 06:38 BST Aug 29
  • SUP 1: 137.03 Intraday low
  • SUP 2: 135.52/34.95 Low Aug 24 / 16
  • SUP 3: 133.40 Low Aug 2 and a bear trigger
  • SUP 4: 132.66 Low May 12 and a key support

The short-term outlook in EURJPY improved Friday, with prices piercing the 50-day EMA at 137.81. For now though, the cross remains below key short-term resistance at 138.40, the Aug 10 high. Moving average studies are in a bear mode condition highlighting a downtrend. A resumption of weakness would open initial key support at 135.52, Aug 24 low. On the upside, clearance of 138.40 would open the 139.21 trendline resistance.

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.