Free Trial

Trend Needle Points North

EURJPY TECHS
  • RES 4: 167.16 2.0% 10-dma envelope
  • RES 3: 166.00 Round number resistance
  • RES 2: 165.35 High Mar 20 and the bull trigger
  • RES 1: 165.17 High Apr 09
  • PRICE: 164.71 @ 07:03 BST Apr 10
  • SUP 1: 163.65/162.81 20-day EMA / Trendline drawn from Dec 7 low
  • SUP 2: 162.52 50-day EMA
  • SUP 3: 161.07 Low Mar 15
  • SUP 4: 160.22 Low Mar 11

The trend outlook in EURJPY remains bullish and the cross continues to trade above a key short-term support at 162.81 marking the trendline drawn from the Dec 7 ‘23 low. A clear break of this line is required to highlight a short-term reversal. This would also highlight a break of the 50-day EMA, at 162.52. For bulls, key resistance is at 165.35, the Mar 20 high. Clearance of this hurdle would resume the primary uptrend.

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.