Free Trial

Downtrend Gives Way EURJPY broke.....>

EURO-YEN TECHS: Downtrend Gives Way
EURJPY broke cleanly above down trendline resistance yesterday shifting the near
term outlook positive and targeting the 21-dma at 123.74, just north of
yesterday's high. Above here brings the 124 level back into focus, above which
would suggest a bullish reversal. On the downside bears need a close back under
123.00, before challenging the May 20 low at 122.54. Below here returns the
focus to the May 15 low & 61.8% retracement of the 2018 range at 122.08/07.

To read the full story



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.