Free Trial

Lower 1% Volatility Band Protects....>

EURO-YEN TECHS
EURO-YEN TECHS: Lower 1% Volatility Band Protects Y129.26-Y129.20 Support
*RES 4: Y131.21 Jul 20 high
*RES 3: Y130.88 Jul 18 low, now resistance
*RES 2: Y130.60 Hourly base Jul 20
*RES 1: Y130.30/45 Hourly resistance
*PRICE: Y129.97 @0840GMT
*SUP 1: Y129.67 1% volatility band
*SUP 2: Y129.26 76.4% Fibo of Y128.42-Y131.99
*SUP 3: Y129.20 2 month daily rising support line
*SUP 4: Y128.91 Former 2018 resistance line, now support
*COMMENTARY* Having broken above key Y131.38-Y131.40 resistance, the rally was
frustrated by the upper 1% volatility band at Y131.99 last Tuesday. The
subsequent fall has now broken below initial support from Y130.42 and the 50%
Fibo retrace level at Y130.20. Now looking to the lower 1% volatility band at
Y129.67 today, for protection against a deeper Y129.26-Y129.20 fall. Meanwhile,
resistance from between Y130.30-Y130.60 is the bar to any recovery potential.

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.