Free Trial

Looking For A Bounce *RES 4:.........>

EURO-YEN TECHS
EURO-YEN TECHS: Looking For A Bounce
*RES 4: 122.32 High Jul 7
*RES 3: 121.52 200-day MA
*RES 2: 121.48 High Oct 21 and bull trigger
*RES 1: 121.02 High Dec 2
*PRICE: 120.61 @ 16:34 GMT Dec 10
*SUP 1: 119.99 Low Dec 9
*SUP 2: 119.58 Low Nov 25
*SUP 3: 119.40/25 Channel base drawn off the Sep 3 low / Low Nov 14
*SUP 4: 118.73 Low Oct 11
EURJPY traded firmer Tuesday, keeping the bullish outlook intact. This follows
the gradual recovery in price since Nov 14. Also, the break above 120.69, Nov 18
high is a positive development and reinforces the importance of the Nov 15
candle pattern, a bullish engulfing that signalled a reversal at 119.25 on Nov
14. The focus is on 121.48, Oct 21 high. Support is at 119.58, Nov 25 low.

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.