Free Trial

Needle Still Points South *RES 4:....>

EURO-YEN TECHS: Needle Still Points South
*RES 4: 117.94 High Apr 14
*RES 3: 117.50 High Apr 16
*RES 2: 117.08/22 20-day EMA / High Apr 22 and key resistance
*RES 1: 116.51 High Apr 27
*PRICE: 115.71 @ 05:55 BST Apr 29
*SUP 1: 115.45 Low Apr 29
*SUP 2: 115.37 0.765 projection of Mar 25 - Apr 2 decline from Apr 7 high
*SUP 3: 115.00 Round number support
*SUP 4: 114.85 Apr 2017 low
EURJPY traded to a fresh low print of 115.45 and remains vulnerable following
last week's sell-off and break of major support at 115.87, Sep 3 2019 low and
the year low. The break reinforces the current bearish theme and also represents
an important technical breach, clearing the way for a move towards 115.37, a
Fibonacci projection and 114.85, the Apr 2017 low. On the upside, 116.51, Apr 27
high marks initial resistance.

To read the full story



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.