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Free AccessFibo Retrace At Y132.88 The..........>
EURO-YEN TECHS: Fibo Retrace At Y132.88 The Immediate Bar To Further Gains
*RES 4: Y134.50/70 Oct 25 high, 1% volatility band
*RES 3: Y134.38 Dec 1 high
*RES 2: Y134.05 Dec 4 high
*RES 1: Y133.88/89 76.4% of Y134.38-Y132.26, Dec 11 high
*PRICE: Y133.60 @1037GMT
*SUP 1: Y133.11/20 Dec 8 low, hourly support
*SUP 2: Y132.71 Hourly base Dec 7
*SUP 3: Y132.55 Hourly congestion area Dec 6
*SUP 4: Y132.26 Dec 6 low
*COMMENTARY* Having found support at Y132.26 last Wednesday, now moving back up
the Y134.50-Y131.17 range, that has been in existence for the last 3 months. The
76.4% Fibo retrace level at Y133.88 is the next potential barrier to gains,
Y134.05-Y134.38 higher. In the interim, support comes from Y133.20-Y133.11, loss
would trigger a deeper correction of that rise from Y132.26, with
Y132.71-Y132.55 below.
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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.