Free Trial

Approaching Major Resistance *RES....>

EURO-YEN TECHS
EURO-YEN TECHS: Approaching Major Resistance
*RES 4: 125.49 0.618 projection of the May 6 - Jun 5 from Jun 22 low
*RES 3: 125.23 High May 1, 2019
*RES 2: 124.66 2.0% 10-dma envelope and High May 3, 2019
*RES 1: 124.43 High Jun 5 and key resistance
*PRICE: 124.13 @ 06:16 BST Jul 23
*SUP 1: 123.06 Low Jul 22
*SUP 2: 122.47 Low Jul 21
*SUP 3: 121.82 Low Jul 15 and 16
*SUP 4: 121.84 20-day EMA
EURJPY started the week on a firm note and maintains this tone as the cross
trades higher. A bullish theme remains intact. Last week, the cross traded above
resistance at 122.50, Jul 15 and 16 high. The move higher confirmed a resumption
of the current bullish cycle that has been in place since Jun 22. With the
124.00 handle cleared, attention is on the key resistance at 124.43, Jun 5 high.
A break would confirm fresh 2020 highs. Support lies at 123.06.

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.