Free Trial

Uptrend Accelerates

EURJPY TECHS
  • RES 4: 132.28 3% Upper Bollinger Band
  • RES 3: 132.04 76.4% retracement of the Oct 20 - Dec 3 downleg
  • RES 2: 131.59 High Nov 5
  • RES 1: 131.46 High Jan 4
  • PRICE: 130.74 @ 16:55 GMT Jan 4
  • SUP 1: 130.02 Low Jan 3
  • SUP 2: 129.55/51 50- and 20-day EMA levels
  • SUP 3: 129.20 Low Dec 27
  • SUP 4: 128.57 Low Dec 22

EURJPY traded through December highs on Tuesday and solidified the bullish tone. The rally took out resistance at 131.15, a Fibonacci retracement and 131.20, a vol-based resistance - reinforcing the strength seen across the second half of December. A break here opens 132.04. On the downside, firm support is seen at 129.55/51, the 50- and 20-day EMA levels.

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.