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Free AccessAbove Y128.64 to Ease Bearish........>
EURO-YEN TECHS: Above Y128.64 to Ease Bearish Pressure
*RES 4: Y130.00 55-DMA
*RES 3: Y129.65 Hourly support June 13 now resistance
*RES 2: Y129.26 Alternating hourly support/resistance
*RES 1: Y128.64 Hourly resistance June 14
*PRICE: Y128.45 @ 2130GMT
*SUP 1: Y128.28 Hourly resistance June 22 now support
*SUP 2: Y127.84 Hourly resistance June 25 now support
*SUP 3: Y127.36 Daily Bull channel base off 2018 low
*SUP 4: Y126.98 Low June 21
*COMMENTARY: Despite an aggressive sell-off early last week downside follow
through has been lacking with the daily bull channel base supporting. Bulls look
for a close above Y128.64 to gain breathing room and above 129.65 to pressure
the 55-DMA (Y130.00) once again. Correcting O/S studies are a concern for bears
who now need a close below Y127.84 to retain focus on Y126.22 and the close
below needed to add weight to the case for a test of 2018 lows.
To read the full story
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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.