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Late SOFR/Eurodollar/Treasury Option Roundup

EURJPY TECHS

Holding On To Its Recent Gains

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Short-Term Outlook Still Bearish

EURJPY TECHS
  • RES 4: 140.07 High Jul 25
  • RES 3: 139.44 Trendline resistance drawn from the Jun 28 high
  • RES 2: 138.40 High Aug 10
  • RES 1: 137.18/90 20- and 50-day EMA values
  • PRICE: 136.33 @ 16:44 BST Aug 25
  • SUP 1: 134.95 Low Aug 16
  • SUP 2: 133.40 Low Aug 2 and a bear trigger
  • SUP 3: 132.66 Low May 12 and a key support
  • SUP 4: 131.99 61.8% retracement of the Mar 7 - Jun 28 bull leg

The EURJPY short-term outlook remains bearish. Moving average studies are in a bear mode condition highlighting a downtrend and the 50-day EMA, at 137.90, remains intact. This average is a key resistance. A strong resumption of weakness would open the 133.40 bear trigger. On the upside, clearance of resistance at the 50-day EMA would instead alter the picture and open the 139.44 trendline resistance drawn from the Jun 28 high.

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

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