Free Trial

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

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Focus Intact
*RES 4: 122.80 1.382 projection of Sep 3 - Sep 13 rally from Oct 3 low
*RES 3: 122.32 High Jul 7
*RES 2: 121.37/48 200-day MA / High Oct 21 and bull trigger
*RES 1: 121.04 Intraday high
*PRICE: 120.96 @ 10:41 GMT Dec 12
*SUP 1: 119.99 Low Dec 9
*SUP 2: 119.58 Low Nov 25
*SUP 3: 119.50/25 Channel base drawn off the Sep 3 low / Low Nov 14
*SUP 4: 118.73 Low Oct 11
EURJPY maintains a bullish outlook and is edging higher. A positive theme has
been in place since Nov 14. Price action has established a bullish sequence of
higher highs and higher lows with moving average studies reinforcing a rising
trend condition. The focus is on 121.48, Oct 21 high with 121.02, Dec 2 high the
first bull trigger. This latter level has this morning been probed. Initial
support is at 119.99, Dec 9 low ahead of 119.58, Nov 25 low.

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.