EURJPY TECHS: Support To Watch Lies At The 20-Day EMA
- RES 4: 171.09 High Jul 23 ‘24
- RES 3: 170.47 76.4% Fibonacci retracement for Jul - Aug ‘24 downleg
- RES 2: 169.91 1.236 proj of the Feb 28 - Mar 18 - Apr 7 price swing
- RES 1: 169.71 High Jun 23
- PRICE: 168.83 @ 07:07 BST Jun 27
- SUP 1: 167.92 Low Jun 24
- SUP 2: 166.67 20-day EMA
- SUP 3: 165.91 Low Jun 16
- SUP 4: 164.77 50-day EMA
The trend set-up in EURJPY is unchanged, it remains bullish and the cross is holding on to its recent gains. Price has recently cleared 166.69, the Oct 31 ‘24 high. Scope is seen for a climb towards 170.47, a key Fibonacci retracement point. Note that the uptrend is in overbought territory, a pullback would unwind this condition. Support to watch lies at 166.67, the 20-day EMA. A break would suggest potential for a deeper retracement.
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FINLAND T-BILL AUCTION PREVIEW: On offer next week
Finland has announced it will be looking to sell a combined E2bln of the following at its auction next Tuesday, June 3:
- the 8-month Feb 13, 2026 RFTB
- the new 11-month May 13, 2026 RFTB
USDJPY TECHS: Trend Needle Points
- RES 4: 150.49 High Apr 2
- RES 3: 149.28 High Apr 3
- RES 2: 148.65 High May 12 and a key resistance
- RES 1: 144.77/145.68 Intraday high / 50-day EMA
- PRICE: 144.28 @ 07:04 BST May 28
- SUP 1: 142.12 Low May 27
- SUP 2: 141.96 76.4% retracement of the Apr 22 - May 12 bull leg
- SUP 3: 139.89 Low Apr 22 and a bear trigger
- SUP 4: 138.82 1.50 proj of the Feb 12 - Mar 11 - 28 price swing
Despite yesterday’s strong bounce, a downtrend in USDJPY remains intact and short-term gains are considered corrective. Support at 142.36, the May 6 low, has been pierced. A clear break of it would open 139.89, the Apr 22 low and the next key support. On the upside, key short-term resistance has been defined at 148.65, the May 12 high. Initial firm resistance to watch is 145.68, the 50-day EMA.
MNI: SWEDEN APR RETAIL SALES +5.3% Y/Y
- MNI: SWEDEN APR RETAIL SALES +5.3% Y/Y
