Free Trial

Focus Back On Y130.59-131.86 *RES....>

EURO-YEN TECHS
EURO-YEN TECHS: Focus Back On Y130.59-131.86
*RES 4: Y134.50 2017 High Oct 25
*RES 3: Y134.05 Hourly support Dec 1a now resistance
*RES 2: Y133.74 Hourly support Dec 1 now resistance
*RES 1: Y133.21 High Dec 6
*PRICE: Y132.66 @ 0210GMT
*SUP 1: Y131.86 Daily Bull channel base 
*SUP 2: Y131.65 100-DMA 
*SUP 3: Y131.21 Low Nov 23 
*SUP 4: Y130.59 Low Sept 15
*COMMENTARY: The rejection ahead of 2017 highs Friday was less than ideal for
bulls with the marginal close below the 21-DMA (Y132.64) shifting focus back to
Y130.59-131.86 where the bull channel base, 100-DMA and Nov lows are situated.
Layers of resistance are building and weighing with bulls now needing a close
above Y133.21 to return focus to 2017 highs. Bulls then need a close above 2017
highs to shift overall focus to the Y139.02-141.04 region last seen in 2015.

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.