Free Trial

Support Remains Intact

EURJPY TECHS
  • RES 4: 160.66 2.382 proj of the May 11 - 29 - 31 price swing
  • RES 3: 160.00 Psychological handle
  • RES 2: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 1: 158.65/159.76 High Sep 13 / High Aug 30 and the bull trigger
  • PRICE: 158.00 @ 15:45 BST Sep 29
  • SUP 1: 156.59 Low Sep 11 and a key support
  • SUP 2: 156.35 Low Aug 8
  • SUP 3: 155.54 Low Aug 3
  • SUP 4: 154.61 61.8% retracement of the Jul 28 - Aug 30 rally

EURJPY traded higher again Friday but the cross continues to trade inside a range. Prices remain above the 50-day EMA - at 157.19. A clear breach of it would undermine the uptrend and highlight a possible short-term reversal that would expose 155.54, the Aug 3 low. The bull trigger is unchanged at 159.76, Aug 30 high where a break would resume the uptrend and open 160.66, a Fibonacci projection. First resistance is 158.65, the Sep 13 high.

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

To read the full story

Close

Why 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.