Free Trial

Bulls Need Close Above 21-DMA *RES...>

EURO-YEN TECHS
EURO-YEN TECHS: Bulls Need Close Above 21-DMA
*RES 4: Y132.95 Hourly resistance Oct 13
*RES 3: Y132.64 21-DMA
*RES 2: Y132.44 Hourly support Oct 13 now resistance
*RES 1: Y132.21 Hourly support Oct 17 now resistance
*PRICE: Y132.10 @ 0930GMT
*SUP 1: Y131.95 Hourly support Oct 18 
*SUP 2: Y131.65 Low Oct 16 
*SUP 3: Y131.46 Bollinger band base 
*SUP 4: Y131.18 55-DMA
*COMMENTARY: The sell-off from last week's Y133.49 topside failure resulted in a
break of Y131.74 but follow through has so far been lacking. Focus has shifted
to the Y130.59-131.18 region where the 55-DMA is noted with a close below
Y130.59 to shift pressure to the 100-DMA (Y129.40). Layers of resistance remain
with bulls needing a close above the 21-DMA to gain breathing room and above
Y133.49 to shift focus to Y134.25-59 where 2017 and monthly highs are situated.

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.