Trial now
BRAZIL

Precatorios Bill May Be Voted On This Thursday

FED

Chairman Powell

EURJPY TECHS

Resumes Its Downtrend

USDJPY TECHS

Testing Its 50-Day EMA

EURO-YEN TECHS
EURO-YEN TECHS: Correction Underway, Y128.30-Y128.12 Protect Y127.79 Return
*RES 4: Y130.28 Jun 7 high
*RES 3: Y129.73/80 Intraday high, Initial pullback Jun 7
*RES 2: Y129.28 Jun 7 low, now resistance
*RES 1: Y128.95/00 Hourly resistance
*PRICE: Y128.78 @1541GMT
*SUP 1: Y128.30 Hourly support
*SUP 2: Y128.12 38.2% Fibo of Y124.62-Y130.28
*SUP 3: Y127.79 Jun 5 low
*SUP 4: Y127.45 50% Fibo of Y124.62-Y130.28
*COMMENTARY* The recovery had been relentless, following last week's exhaustion
spike to the base of the 4 month bear channel. Thursday saw a move through the
76.4% Fibo retrace level at Y129.78, then Y130.28 preventing a look at the upper
2% volatility band at Y130.51. Meanwhile, near term overbought conditions have
seen a pullback below Y129.50-Y129.42 support, this dents recent upside momentum
and suggests some deeper correction is due, beginning with Y128.12.