Free Trial

Bullish Focus Intact *RES 4:.........>

EURO-YEN TECHS: Bullish Focus Intact
*RES 4: 121.76 200-DMA
*RES 3: 121.48 High Oct 21 and bull trigger
*RES 2: 121.11 High Nov 7
*RES 1: 120.69 High Nov 18
*PRICE: 119.88 @ 10:37 GMT Nov 25
*SUP 1: 119.58 Intraday low
*SUP 2: 119.25 Low Nov 14 and bear trigger
*SUP 3: 118.84 Bear channel base drawn off the Sep 3 low
*SUP 4: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
The EURJPY outlook is bullish. The Nov 15 candle pattern, a bullish engulfing
reversal that followed a test of important support at 119.50/40 is still seen as
a significant bullish development. It signals the end of the move lower since
Oct 21 and places the cross back in a bull camp. The intraday bull trigger is
120.69, a breach would pave the way for a climb towards 121.48, Oct 21 high.
Initial support lies at 119.25, Nov 14 low.

To read the full story



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.