Free Trial

Trend Outlook Is Bullish

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

Support Intact

  • RES 4: 132.43 High Jul 1
  • RES 3: 131.86 Jul 6 high
  • RES 2: 131.01/09 50-day EMA / High Jul 13
  • RES 1: 130.56 High Jul 29
  • PRICE: 129.70 @ 17:34 BST Aug 11
  • SUP 1: 129.14 Low Aug 04
  • SUP 2: 128.72/60 200-dma / Low Jul 20 and the bear trigger
  • SUP 3: 128.29 Low Mar 24 and key support
  • SUP 4: 127.88 38.2% retracement of the Oct '20 - Jun rally

EURJPY edged lower at the beginning of last week, exposing next key support at the 128.72 200-dma. This keeps the outlook bearish and recent gains are still considered corrective. A clear break of the average would reinforce the current bearish theme and signal scope for an extension of the downtrend. Note, moving average studies remain bearish. Potential is for a move to 127.88, 38.2% of the Oct '20 - Jun rally. 131.01 marks resistance, the 50-day EMA.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.