Free Trial

Initial Focus On 2017 High *RES 4:...>

EURO-YEN TECHS
EURO-YEN TECHS: Initial Focus On 2017 High
*RES 4: Y136.95 Monthly High Oct 9 2015
*RES 3: Y136.40 High Oct 21 2015
*RES 2: Y135.84 Low Oct 21 2015 now resistance
*RES 1: Y134.50 2017 High Oct 25
*PRICE: Y133.92 @ 0240GMT
*SUP 1: Y133.31 Hourly resistance Nov 30 now support 
*SUP 2: Y132.65 Hourly support Nov 30 
*SUP 3: Y132.52 21-DMA 
*SUP 4: Y131.71 Low Nov 28
*COMMENTARY: Support emerging on dips back towards the 100-DMA has provided the
base for a close above Y133.23 that sees immediate bullish focus back on tests
of 2017 highs. Bulls now need a close above Y134.50 to shift overall focus to
the Y139.02-141.04 region last seen in 2015. Bulls will need a close above
Y136.95 to add support to their case. Bears now look for a close below Y133.31
to ease pressure on 2017 highs and target a correction back to Y130.59-131.71.

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.