Free Trial

Uptrend Remains Intact

  • RES 4: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
  • RES 3: 158.90 2.0% 10-dma envelope
  • RES 2: 158.72 2.00 proj of the May 11 - 29 - 31 price swing
  • RES 1: 158.05 High Jul 21
  • PRICE: 156.61 @ 06:40 BST Jul 25
  • SUP 1: 155.59 Low Jul 21
  • SUP 2: 154.78 Trendline support drawn from the Mar 24 low
  • SUP 3: 153.64/49 50-day EMA / Low Jul 12
  • SUP 4: 151.61 High May 2

EURJPY trend conditions remain bullish. Moving average studies are in a bull mode position and the price sequence of higher highs and and higher lows remains intact. Attention is on the bull trigger at 158.00, the Jun 28 high. This level has been pierced, a clear break of it would confirm a resumption of the long-term uptrend and open 158.72, a Fibonacci projection. Key trendline support, drawn from the Mar 24 low, intersects at 154.78.

To read the full story



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.