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Free AccessBearish outlook: *RES 4: 123.74/79...>
EURO-YEN TECHS: Bearish outlook:
*RES 4: 123.74/79 High May 21 and 50% retracement of Apr 17-Jun 3 decline
*RES 3: 123.36/49 High Jul 1 / cloud base
*RES 2: 122.64 50-dma
*RES 1: 122.08/13 21-dma / High Jun 17
*PRICE: 121.63 @ 08:48 GMT Jul 4
*SUP 1: 121.32 Low Jul 4
*SUP 2: 120.95 Low Jun 21
*SUP 3: 120.78 Low Jun 3 and major support
*SUP 4: 120.00 Psychological round number
The corrective pullback based at 121.32 yesterday. EURJPY recoveries remain
shallow highlighting the short-term risk for deeper losses, support is located
at 120.95 and 120.78. A break of the latter level would negate the prospect of a
double bottom highlighted recently, and instead confirm a resumption of the
downtrend exposing the psychological 120.00 handle. Key resistance is at 123.36.
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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.