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Depreciating: *RES 4: 118.48.......>

DOLLAR-YEN TECHS
MNI (London)
DOLLAR-YEN TECHS: Depreciating:
*RES 4: 118.48 High Aug 19
*RES 3: 118.20 High Aug 26
*RES 2: 117.94 High Aug 29 and key near-term resistance
*RES 1: 116.78 High Sep 2
*PRICE: 116.29 @ 04:56 GMT Sep 3
*SUP 1: 116.24 Intraday low
*SUP 2: 116.00 Psychological support
*SUP 3: 115.02 1.382 projection of Apr 17 - Jun 3 decline from Jul 1 high
*SUP 4: 114.85 Low Apr 2017
EURJPY is under pressure again with fresh trend lows printed overnight. This has
again confirmed a resumption of the downtrend and extends the price sequence of
lower lows and lower highs. The focus is on the psychological 116.00 level.
Directional technical indicators are pointing south suggesting a strong
likelihood the cross will trade below 116.00 to open the 115.02 Fibonacci
projection and further out, the Apr 2017 low 114.85. Resistance is at 117.94.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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