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NBP Data Watch
Above Y128.64 to Ease Bearish........>
EURO-YEN TECHS: Above Y128.64 to Ease Bearish Pressure
*RES 4: Y129.65 Hourly support June 13 now resistance
*RES 3: Y129.26 Alternating hourly support/resistance
*RES 2: Y128.64 Hourly resistance June 14
*RES 1: Y128.01 Hourly resistance June 20
*PRICE: Y127.86 @ 0430GMT
*SUP 1: Y127.63 Hourly support June 21
*SUP 2: Y127.09 Low June 20
*SUP 3: Y126.63 Low June 19
*SUP 4: Y126.22 Hourly support May 30
*COMMENTARY: Despite an aggressive sell-off this week downside follow through
has been lacking. Bears focus on the Y126.22 support with a close below needed
to add weight to the case for a test of 2018 lows and a potential move back to
the bull channel base (Y122.89). Bulls continue to look for a close above
Y128.64 to gain breathing room and above 129.65 to pressure the 55-DMA once
again.
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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.