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Free AccessKey Near Term Support Situated.......>
EURO-YEN TECHS: Key Near Term Support Situated Between Y127.09-Y126.99
*RES 4: Y128.60 Jun 22 high
*RES 3: Y128.33 Hourly recovery high Jun 22
*RES 2: Y128.05/10 Congestion area Jun 22
*RES 1: Y127.75/85 Hourly resistance
*PRICE: Y127.71 @0808GMT
*SUP 1: Y126.99/09 1% vol band, Jun 21, Jun 20 lows
*SUP 2: Y126.64 Jun 19 low
*SUP 3: Y125.97 76.4% Fibo of Y124.62-Y130.36
*SUP 4: Y125.71 2% volatility band
*COMMENTARY* The recovery from Y126.64 has found it hard to deal with Y128.60
resistance, shy of a test into a stronger area between Y128.93-Y128.95. As a
result, has become overbought in the near term and has now seen a dip below
Y127.65-Y127.39 support. This now puts pressure on the more important
Y127.09-Y126.99 area. Loss will suggest rally is over and focus below Y126.64
will again centre on Y125.97. Meanwhile, Y127.75-Y128.10 becomes resistance.
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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.