Free Trial

21 & 55-DMAs Key *RES 4: Y130.39.....>

EURO-YEN TECHS
EURO-YEN TECHS: 21 & 55-DMAs Key
*RES 4: Y130.39 High Aug 16 
*RES 3: Y129.82 Hourly resistance Aug 16 
*RES 2: Y129.55 21-DMA
*RES 1: Y129.49 Hourly resistance Aug 17a & 25
*PRICE: Y129.25 @ 0430GMT
*SUP 1: Y129.15 Hourly support Aug 25 
*SUP 2: Y128.69 Hourly support Aug 24 
*SUP 3: Y128.29 55-DMA 
*SUP 4: Y127.43 Low June 30
*COMMENTARY: Dips back towards the 55-DMA have continued to find support with
hesitation around the 21-DMA now a concern. Bulls need a close above the 21-DMA
to add support to the case for a move back to 2017 highs with above Y130.39
confirming a shift higher in focus. The 55-DMA is now key support. Bears look
for a close below the 55-DMA to shift immediate focus back to Y127.43 and then
Y125.31-1263.47 where the 100-DMA is noted.

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.