Free Trial

Finds Support *RES 4: 123.22 76.4%...>

EURO-YEN TECHS
EURO-YEN TECHS: Finds Support
*RES 4: 123.22 76.4% retracement of the Jun 5 - 22 downleg
*RES 3: 122.47 61.8% retracement of the Jun 5 - 22 downleg
*RES 2: 122.12 High Jun 16 and key near-term resistance
*RES 1: 121.97 High Jul 6 and 9 high and key resistance
*PRICE: 121.12 @ 10:31 BST Jul 13
*SUP 1: 120.26/27 Low Jul 1/10 and key S/T support
*SUP 2: 120.00/81 50-day EMA / Low Jun 26
*SUP 3: 119.31 Low Jun 22 and key support
*SUP 4: 118.87 Low May 29
EURJPY has found support at Friday's low of 120.27 with the cross also pushing
higher today. The recovery Friday suggests the sharp sell-off late last week is
a correction and as long as 120.27 remains intact, a positive tone appears to be
reinstating itself once again. If this reading is correct, scope exists for a
climb to retest firm resistance at 121.97, high Jul 6 and 9. Sub 120.27 would
see bearish pressure return.

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.