Free Trial

Uptrend Remains Intact

EURJPY TECHS
  • RES 4: 134.40 2.382 proj of the Sep 22 - 29 - Oct 6 price swing
  • RES 3: 134.13 High Jun 1 and a key resistance
  • RES 2: 133.76 High Jun 10
  • RES 1: 133.48 High Oct 20
  • PRICE: 132.83 @ 06:41 BST Oct 21
  • SUP 1: 132.15/131.27 Low Oct 18 / Low Oct 14
  • SUP 2: 130.75 Sep 3 high
  • SUP 3: 130.28 50-day EMA
  • SUP 4: 129.28 Low Oct 11

EURJPY maintains a bullish tone and today's pullback is considered corrective. This week's gains confirm an extension of the upleg that started Oct 6. The cross has recently cleared 130.75, the Sep 3 high bull trigger and the rally has maintained an impulsive bullish drive since. The focus is on 133.76 next, Jun 10 high and 134.13, the Jun 1 high. Initial support is at 132.15, Oct 18 low.

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.