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Onus turns lower: *RES 4: 122.54.....>

EURO-YEN TECHS: Onus turns lower:
*RES 4: 122.54 High Jul 2
*RES 3: 122.32 High Jul 10
*RES 2: 121.75/85 50-dma / High Jul 15
*RES 1: 121.38 High Jul 25 and Jul 30
*PRICE: 120.43 @ 19:52 GMT Jul 31
*SUP 1: 120.05 Low Jul 25
*SUP 2: 120.00/119.81 Psychological round number/ 3% Lower Bollinger Band
*SUP 3: 119.67 Lower 1.0% 10-dma envelope
*SUP 4: 118.71 YTD low
The single currency took a sharp knock following the Fed, keeping the bears in
control and turning eyes to support at 120.05. A break below here would open
psychological handle support, but progress should slow below here ahead of the
118.71 YTD low. A move back above 121.38, on the other hand, would open the
50-dma at 121.75.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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