Free Trial

Focus On Y126.22-98 Today *RES 4:....>

EURO-YEN TECHS
EURO-YEN TECHS: Focus On Y126.22-98 Today
*RES 4: Y129.26 Alternating hourly support/resistance
*RES 3: Y128.81 High June 25
*RES 2: Y128.54 Hourly resistance June 25
*RES 1: Y127.56 Hourly support June 26 now resistance
*PRICE: Y127.34 @ 2130GMT
*SUP 1: Y126.98 Low June 21 
*SUP 2: Y126.63 Low June 19 
*SUP 3: Y126.22 Hourly support May 30 
*SUP 4: Y124.61 2018 Low May 29
*COMMENTARY: Hesitation at Y128.81 sees the pair trading below the bull channel
base (Y127.78) off 2018 lows with immediate focus on Y126.22-98 today. Bears
need a close below Y126.22 to confirm immediate focus on tests of 2018 lows. O/S
daily studies and the Bollinger base (Y126.71) are concerns for bears. The
Y128.81 resistance remains key with bulls needing a close above to ease bearish
pressure and above Y129.65 to pressure layers of resistance Y129.91-131.37.

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.