* RES 4: 7955.94 1.618 proj of the Jun 11 - 15 - Jul 29 price swing * RES 3: 7914.38 1.500 proj of t...
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EURJPY is holding on to the bulk of its recent gains. Despite the move higher - a correction - a bearish trend theme remains intact. However, the latest climb has delivered a print above 180.87, the 20-day EMA. A clear break of this hurdle would signal scope for a stronger recovery, potentially towards the 50-day EMA, at 182.56. MA studies are in a bear-mode position, highlighting a dominant downtrend. The bear trigger lies at 177.85, the Sep 14 low.
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Estox 50: +0.70%, Dax: +0.71%, CAC: +0.53%, FTSE +0.72%, SMI +0.42%.