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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Bull Channel Support Holding *RES....>
EURO-YEN TECHS: Bull Channel Support Holding
*RES 3: 122.50 High Dec 27
*RES 2: 122.02 High Jan 2
*RES 1: 121.38 High Jan 3
*PRICE: 121.20 @ 10:39 GMT Jan 6
*SUP 1: 120.36/17 Bull channel base drawn off the Sep 3 low / Low Dec 3
*SUP 2: 119.99 Low Dec 9
*SUP 3: 119.58 Low Nov 25
EURJPY traded with a firmer tone Monday after rebounding off 120.28. The gains
thus far highlight the fact that the key channel base has so far managed to
hold. The channel base intersects at 120.36 and has been tested on both of the
past two sessions. Although Monday's gains are encouraging for bulls, a break of
the 122.02, Jan 2 high is needed to more convincingly reestablish a bullish
tone. On the downside, bulls nevertheless have a clear risk parameter at
Friday's low of 120.17 against which to gauge short-term directional pressure. A
break of 120.17 would confirm a bearish channel breakout.
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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.