Free Trial

Based Ahead of 123.00 EURJPY based...>

EURO-YEN TECHS
EURO-YEN TECHS: Based Ahead of 123.00
EURJPY based ahead of the 123.00 level & broken trendline resistance-turned
support to keep the recent uptrend intact. This shifts the near term outlook
positive with bulls targeting the 21-dma & May 21 high at 123.72/74. Above here
brings the 124 level back into view, above which would suggest a bullish
reversal. On the downside bears need a close back under 123.00 & trendline
support, before challenging the May 20 low at 122.54. Below here returns the
focus to the May 15 low & 61.8% retracement of the 2018 range at 122.08/07.

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.