Free Trial

Trend Needle Points South

EURJPY TECHS
  • RES 4: 142.32 High Jul 21 and key resistance
  • RES 3: 142.01 2.0% 10-dma envelope
  • RES 2: 139.17/140.69 20-day EMA / High Jul 22
  • RES 1: 137.33 High Jul 29
  • PRICE: 135.37 @ 16:45 BST Aug 1
  • SUP 1: 135.01 Low Aug 01
  • SUP 2: 134.58 Low May 20
  • SUP 3: 133.93 Low May 19
  • SUP 4: 132.66 Low May 12 and a key support

EURJPY is trading lower again and trend conditions remain bearish. This reinforces the current downward cycle and marks an extension of last week’s breach of support at 136.87, the Jul 8 low. The break strengthened bearish conditions and has paved the way for a move towards 133.93 next, the May 19 low. Initial firm resistance is seen at 139.17, the 20-day EMA. Key resistance has been defined at 142.32, the Jul 21 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.