Free Trial

Immediate Pressure On Y131.74........>

EURO-YEN TECHS
EURO-YEN TECHS: Immediate Pressure On Y131.74 Support
*RES 4: Y133.11 High Sept 29
*RES 3: Y132.88 High Oct 3
*RES 2: Y132.43 Hourly support Oct 6 now resistance
*RES 1: Y132.27 Hourly resistance Oct 6
*PRICE: Y132.06 @ 0430GMT
*SUP 1: Y132.04 Hourly support Oct 9 
*SUP 2: Y131.74 Low Sept 26 
*SUP 3: Y130.91 55-DMA 
*SUP 4: Y130.59 Low Sept 15
*COMMENTARY: Pressure on the 21-DMA (Y132.51) and daily bull channel base took
its toll with closes below the 21-DMA seeing immediate pressure on the Y131.74
support. Bears need a close below to shift immediate focus to Y130.38-91 where
the 55-DMA & 200-WMA are noted. Layers of resistance accumulating are adding
weight to the bearish case. Bulls again look for a close above Y132.40 to gain
breathing room and above Y133.49 to shift focus back to Y134.25-41.

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.