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: 124.18 @ 10:25 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 is holding onto this week's gains with bulls firmly in control. The cross
is trading close to the next major resistance at 124.43, Jun 5 high. A break of
this hurdle would reinforce current bullish conditions and also confirm fresh
highs for the year. This would open 124.66, 2.0% 10-dma envelope and 125.23, May
1 2019 high. On the downside, support lies at 123.06, yesterday's low.

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.