Free Trial

Trendline Support Remains Exposed

EURJPY TECHS
  • RES 4: 165.00 Round number resistance
  • RES 3: 164.30 High Nov 16 and a key medium-term resistance
  • RES 2: 163.72 High Feb 26 and the bull trigger
  • RES 1: 162.96 High Mar 6
  • PRICE: 162.34 @ 16:14 GMT Mar 15
  • SUP 1: 160.85/22 Trendline drawn from Dec 7 low / Low Mar 11
  • SUP 2: 159.47 Low Feb 8
  • SUP 3: 158.92 Low Feb 7
  • SUP 4: 158.08 Low Feb 1 and a key support

EURJPY traded higher Friday. Key trendline support at 160.85, remains intact. The trendline is drawn from the Dec 7 low and has recently been pierced. A clear break of the line would strengthen a bearish theme and signal a reversal, paving the way initially for 158.92, the Feb 7 low. The trend remains up with the trendline intact. A continuation higher would open key resistance and the bull trigger at 163.72, the Feb 26 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.