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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 AccessBullish But Overbought *RES 3:.......>
EURO-YEN TECHS: Bullish But Overbought
*RES 3: 125.88/96 Upper Bollinger Band / 50% 2018 - 2020 sell-off
*RES 2: 125.00 Round number resistance
*RES 1: 124.43 High Jun 5
*PRICE: 122.51 @ 16:58 BST Jun 8
*SUP 1: 122.07 23.6% May - June rally
*SUP 2: 121.85 Low Jun 4
*SUP 3: 121.27 Low Jun 3
EURJPY maintains a bullish tone following last week's strong impulsive rally
that resulted in a break of 122.87, Jan 16 high and the former YTD high.
Momentum conditions are overbought however and the current uptrend is steep,
suggesting further gains may be hard fought. A deeper pullback would signal the
start of a correction with initial firm support at 122.07, the first Fib
retracement from the recent rally. A move higher once again though would open
the 125.00 and potentially beyond.
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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.