Free Trial

Approaching Key Support EURJPY has...>

EURO-YEN TECHS
EURO-YEN TECHS: Approaching Key Support
EURJPY has extended the recent decline, with intraday rebounds remaining limited
and corrective in nature. This is consistent with the bearish reversal pattern
developed over the past two days. The decline has tested 129.25, thus far, just
ahead of the 50-dma intervening at 129.20 and the recent lows at 129.13. A
further break below these layers of support will open the way for a decline
towards the 127.15 area initially. Resistance now comes in at 130.30 ahead of
the 130.67 level, a break of which is needed to restore the recent bullish
structure.

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.