Free Trial

2% Volatility Band Joins Friday's....>

EURO-YEN TECHS
EURO-YEN TECHS: 2% Volatility Band Joins Friday's Low As Key Support
*RES 4: Y134.17 Feb 9 high
*RES 3: Y133.80 Feb 12 high
*RES 2: Y133.50 Hourly congestion area Feb 12
*RES 1: Y133.20 Hourly resistance
*PRICE: Y132.92 @1625GMT
*SUP 1: Y132.35/40 Hourly support
*SUP 2: Y131.99 Feb 9 low, 2% volatility band
*SUP 3: Y131.17 Nov 17 low
*SUP 4: Y130.87 1.618 swing of Y131.99-Y133.80
*COMMENTARY* Some downside exuberance saw the lower 2% volatility band slightly
exceeded on Friday, but this was quickly rectified by the subsequent
Y131.99-Y133.80 bounce. As a result, earlier support now exists from between
Y132.40-Y132.35, ahead of the band, which by time today, has now joined that
Y131.99 low. This remains the protection to the Nov 17 low at Y131.17.
Meanwhile, Y133.20 and then Y133.50 provide resistance to a Y133.80 return.

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.