Free Trial

Bullish Within Its Channel *RES 4:...>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Within Its Channel
*RES 4: 124.40 Bull channel top drawn off the Sep 3 low
*RES 3: 123.75 High May 21, 2019
*RES 2: 123.36 High Jul 1, 2019
*RES 1: 122.76 Intraday high
*PRICE: 122.53 @ 10:41 GMT Jan 14
*SUP 1: 121.58 Low Jan 13
*SUP 2: 121.13 Low Jan 9
*SUP 3: 120.66 Bull channel base drawn off the Sep 3 low
*SUP 4: 120.17 Low Jan 3, 8 and key support
EURJPY rallied sharply higher yesterday and maintains a firmer tone. A bullish
theme follows last week's gains that saw key channel support remain intact,
despite a test below it between Jan 3 -Jan 8. The channel is drawn off the Sep 3
low and intersects at 120.66. The cross today probed 122.65, Dec 13 high. A
clear break would pave the way for strength towards 123.36, Jul 1 high and
124.40, the bull channel top. Support is seen at 121.58, yesterday's 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.