Free Trial

Trend Direction Remains Up

EURJPY TECHS
  • RES 4: 139.00 High Aug 21 2015 and a key resistance
  • RES 3: 138.62 High Aug 25 2015
  • RES 2: 137.50/53 High Feb 2 ‘18 and major resistance / High Mar 28
  • RES 1: 137.13 High Apr 11
  • PRICE: 136.79 @ 06:48 BST Apr 14
  • SUP 1: 134.32/133.94 20-day EMA / Low Apr 5
  • SUP 2: 133.15 High Feb 10
  • SUP 3: 132.38 50-day EMA
  • SUP 4: 131.59 Low Mar 22

The EURJPY pullback from 137.53, Mar 28 high still appears to be a correction and this has allowed an overbought condition to unwind. Support to watch is at 134.32/133.94, the 20-day EMA and Mar 28 low respectively. A break lower would open 133.15, the Feb 10 high. The primary trend remains up and the bull trigger is 137.50/53. Clearance of this hurdle would resume the uptrend and expose 138.62, the Aug 25 2015 high.

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.