Free Trial

Bears still in control: *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Bears still in control:
*RES 4: 118.48 High Aug 19
*RES 3: 118.20 High Aug 26
*RES 2: 117.94 High Aug 29 and key near-term resistance
*RES 1: 116.78 High Sep 2
*PRICE: 116.36 @ 04:55 GMT Sep 4
*SUP 1: 115.87 Low Sep 3
*SUP 2: 115.02 1.382 projection of Apr 17 - Jun 3 decline from Jul 1 high
*SUP 3: 115.00 Psychological support & 2.0% 10-dma envelope
*SUP 4: 114.85 Low Apr 2017
EURJPY remains in a clear downward path with fresh trend lows printed yesterday
at 115.87 . This again confirmed a resumption of the downtrend, extending the
price sequence of lower lows and lower highs. Directional technical indicators
are pointing south suggesting a strong likelihood bearish activity will extend
below 116.00. The focus is on the 115.02 Fibonacci projection and the the Apr
2017 low 114.85. Resistance is at 117.94.

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.