Free Trial

Trades Above A S/T Trendline Resistance

EURJPY TECHS
  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9 and a key near-term resistance
  • RES 1: 146.75 High Nov 10
  • PRICE: 146.01 @ 07:05 GMT Nov 23
  • SUP 1: 144.09/42.57 50-day EMA / Low Nov 11 and the bear Trigger
  • SUP 2: 141.78 Low Oct 13
  • SUP 3: 140.90 Low Oct 10
  • SUP 4: 140.00 76.4% retracement of the Sep 26 - Oct 21 rally

EURJPY maintains a firmer short-term tone and continues to trade above 142.57, the Nov 10 low. Despite these gains, a bearish threat remains present, however, the cross continues to climb and price has breached a short-term trendline resistance at 145.91. The trendline is drawn from the Oct 21 high. The next key resistance to watch is 147.10, the Nov 9 high. On the downside, the bear trigger is at 142.57, the Nov 11 low.

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.