Free Trial

Remains Under Pressure

EURJPY TECHS
  • RES 4: 129.76 50-day EMA
  • RES 3: 128.77 High Mar 2
  • RES 2: 127.39 LowDec 3/6
  • RES 1: 125.90 Intraday high
  • PRICE: 125.08 @ 07:12 GMT Mar 7
  • SUP 1: 124.28 50.0% of the 2020 - 2021 bulls cycle
  • SUP 2: 123.45 1.618 proj of the Jan - Sep - Oct ‘21 price swing
  • SUP 3: 123.01 Low Nov 20 2020
  • SUP 4: 128.85 Low Nov 19 2020

The downtrend in EURJPY accelerated Friday and the cross has again traded to a fresh cycle low today. Last week’s move lower confirmed a resumption of the downtrend and highlights an acceleration of the current bear cycle. The focus is on 124.28 next, 50.0% of the 2020 - 2021 bulls cycle. On the upside, resistance is seen at 127.39, the Dec 3/6 low and a recent break out level.

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.