Free Trial

Downtrend Intact EURJPY touched......>

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend Intact
EURJPY touched recovery highs of 124.25, but has since drifted back under
124.00. A close below is needed to cement the downside break, returning the
focus to the 50% retracement of the 2016 lows to the 2018 highs at 123.72. The
May 6 low provides next support at 123.36, ahead of a run at the 123.00 level.
Bulls target yesterday's high at 124.30, ahead of the 100 & 200-hma's at
124.44/58. While a topside break of 125.00 puts the focus back on the 125.30-60
zone which holds the 100-dma, 50% retracement of the Apr fall & previous series
of highs.

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.