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Free AccessContinued Failure Below Y133.39......>
EURO-YEN TECHS: Continued Failure Below Y133.39 Would Concern
*RES 4: Y134.56 50% Fibo of Y137.51-Y131.61
*RES 3: Y134.13 Jan 30 low, now resistance
*RES 2: Y133.80/86 Feb 12 high, 38.2% of Y137.51-Y131.61
*RES 1: Y133.39 Feb 14 high
*PRICE: Y132.74 @1625GMT
*SUP 1: Y132.50 Hourly support
*SUP 2: Y131.99 Feb 9 low
*SUP 3: Y131.61 Feb 14 low
*SUP 4: Y131.37 2% volatility band
*COMMENTARY* The lower 2% volatility band came under renewed pressure yesterday.
A low of Y131.61, before the weight of some heavily oversold hourly conditions
came to the near term rescue. The subsequent lift, now has Wednesday's Y133.39
high in the way of an even better recovery. Meanwhile, nearest support of note
now seen from Y132.50, loss would caution and suggest a fresh bout of weakness
underway, Y131.99 then the protection against a Y131.61-Y131.37 fall.
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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.