Free Trial

Key Support Gives Way *RES 4:........>

EURO-YEN TECHS
EURO-YEN TECHS: Key Support Gives Way
*RES 4: 122.37 High Jan 21
*RES 3: 121.83 76.4% retracement Jan 16 - Feb 18 Decline
*RES 2: 121.40/44 High Feb 20 / 2.0% Upper Bollinger Band
*RES 1: 121.04 High Feb 27
*PRICE: 119.05 @ 17:05 GMT Feb 28
*SUP 1: 118.39 Low Feb 25
*SUP 2: 117.98 3.0% Lower Bollinger Band
*SUP 3: 117.58 3.0% 10-dma envelope
*SUP 4: 117.52 76.4% Sep 2019 - Feb 2020 Rally
119.54 key support gave way Friday, reinforcing the bearish outlook as the JPY
outperforms. The near-term outlook remains very bearish and the focus switches
to the early October lows at 117.08. A fall through would mark a protracted
decline and downside targets would switch to the 2019 low at 115.87. Price needs
to trade above 121.04 to instead suggest scope for near-term recovery.

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.