Free Trial

Up and Up

EURJPY TECHS
  • RES 4: 126.56 2.0% 10-dma envelope
  • RES 3: 126.25 3.0% Bollinger Band
  • RES 2: 126.13 High Sep 11
  • RES 1: 125.82 High Dec 1
  • PRICE: 125.79 @ 19:38 GMT Dec 1
  • SUP 1: 123.83/76 20- and 50-day EMA levels
  • SUP 2: 122.85/69 Low Nov 19 / Low Nov 9 and key S/T support
  • SUP 3: 122.45 76.4% retracement of the Oct 30 - Nov 9 rally
  • SUP 4: 122.21 Low Nov 5

EURJPY rallied well Tuesday, sustaining gains into the US close and rising through the bull trigger at 125.13 in the process. This signals scope for a stronger recovery and opens resistance at 126.13, Sep 11 high and the next upside target. Tuesday's rally saw prices also base above 125.79, a Fibonacci retracement. On the downside, firm support has been defined at 122.85, Nov 19 low. A break would trigger a deeper sell-off. Initial support is at 123.83/76.

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.