Free Trial

Support At The 20-Day EMA Remains Intact For Now

  • RES 4: 166.46 1.236 proj of the Jan 2 - 19 - Feb 1 price swing
  • RES 3: 165.00 Round number resistance
  • RES 2: 164.30 High Nov 16 and a key medium-term resistance
  • RES 1: 163.72 High Nov 27 and Feb 26
  • PRICE: 162.55 @ 07:01 GMT Mar 1
  • SUP 1: 161.85 20-day EMA
  • SUP 2: 160.66 50-day EMA
  • SUP 3: 158.92 Low Feb 7
  • SUP 4: 158.08 Low Feb 1 and key support

The uptrend in EURJPY remains intact and the latest move lower appears to be a correction. Initial support to watch lies at 161.85, the 20-day EMA - a level pierced, but not convincingly broken on Thursday. A clear break of it would signal scope for a deeper pullback towards the 50-day EMA, at 160.66. A resumption of gains would refocus attention on 163.72, the Nov 27 high (tested) ahead of key resistance at 164.30, the Nov 16 high.

To read the full story



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.