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Still Looking For Weakness

EURJPY TECHS
  • RES 4: 132.56 High Nov 4
  • RES 3: 131.59 High Nov 5
  • RES 2: 130.45 50-day EMA
  • RES 1: 129.60/129.99 High Nov 23 / High Nov 19
  • PRICE: 128.03 @ 17:25 GMT Nov 26
  • SUP 1: 127.92 Low Nov 26
  • SUP 2: 127.28 1.00 proj of the Jun 1 - Sep 22 - Oct 20 price swing
  • SUP 3: 127.04 Low Feb 15
  • SUP 4: 126.65 Low Feb 10

EURJPY showed at a new low of 127.92 Friday, keeping the short-term outlook bearish. Friday weakness saw prices show below 127.93, opening losses toward 127.04 and below. A breach would strengthen bearish conditions and open levels not seen since February. 129.99, the Nov 19 high marks initial firm resistance. A break would ease bearish pressure.

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

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