Free Trial

Faltering below Y122 keeps outlook...>

EURO-YEN TECHS
EURO-YEN TECHS: Faltering below Y122 keeps outlook bearish
Despite a minor recovery at the NY crossover, EUR/JPY looks to close below the
Y122 mark, keeping the outlook bearish. A finish below the 50% retracement of
the June range at 121.98 would confirm this and is seen as triggering renewed
bearish signals. Any move back under the triangle top returns the focus to the
Jun 6 low at 121.26. Bulls need to clear 123.00 & the Jun 11 high to reignite
the uptrend, opening a run at the 1.0% 10-dma envelope & May 22 high at
123.44/51.

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.