© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BIDEN SAYS PEOPLE'S SAVINGS ARE SECURE

MNI BRIEF: US Bank Deposits Fell USD98B Week Of SVB Collapse

MNI BRIEF: Data Not Justifying ECB Hike Beyond Expectations

EZ/UK Bond Supply Calendar: UK Long APF Sales on Monday

EZ/UK T-Bill Calendar: Germany & France to issue Monday

MNI DATA FORECASTS: EZ Inflation data in focus

MNI BRIEF: Yellen Says Americans' Deposits Are Safe

MNI BRIEF: Italy ESM Ratification Framed In EU’s Fiscal Debate

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Retreats From Resistance

EURJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 145.83 High Dec 20
  • RES 3: 144.53 76.4% retracement of the Dec 15 - Jan 3 bear leg
  • RES 2: 144.00 Round number resistance
  • RES 1: 142.99 High Feb 6
  • PRICE: 140.49 @ 16:29 GMT Feb 7
  • SUP 1: 139.94/06 Low Feb 3 and a key support / Low Jan 20
  • SUP 2: 138.55 2.0% 10-dma envelope
  • SUP 3: 137.39 Low Jan 3 and the bear trigger
  • SUP 4: 137.92 Low Jan 19

EURJPY faded further from the Monday highs, taking the 20-day EMA out on the way lower. Firmer support is expected into 139.94, the Feb 3 low. A break would be bearish. To the upside, 142.86 marks the Jan 11 high and a key resistance. A clear break of this hurdle would strengthen bullish conditions and highlight a stronger reversal plus confirm a recent bull flag on the daily chart. This would open 144.53, a Fibonacci retracement.

147 words

To read the full story

Why Subscribe to

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.
  • RES 4: 145.83 High Dec 20
  • RES 3: 144.53 76.4% retracement of the Dec 15 - Jan 3 bear leg
  • RES 2: 144.00 Round number resistance
  • RES 1: 142.99 High Feb 6
  • PRICE: 140.49 @ 16:29 GMT Feb 7
  • SUP 1: 139.94/06 Low Feb 3 and a key support / Low Jan 20
  • SUP 2: 138.55 2.0% 10-dma envelope
  • SUP 3: 137.39 Low Jan 3 and the bear trigger
  • SUP 4: 137.92 Low Jan 19

EURJPY faded further from the Monday highs, taking the 20-day EMA out on the way lower. Firmer support is expected into 139.94, the Feb 3 low. A break would be bearish. To the upside, 142.86 marks the Jan 11 high and a key resistance. A clear break of this hurdle would strengthen bullish conditions and highlight a stronger reversal plus confirm a recent bull flag on the daily chart. This would open 144.53, a Fibonacci retracement.