Free Trial

Path Of Least Resistance Remains.....>

EURO-YEN TECHS
EURO-YEN TECHS: Path Of Least Resistance Remains Down
*RES 4: 117.94 High Apr 14
*RES 3: 117.48/50 20-day EMA / High Apr 16
*RES 2: 117.22 High Apr 22 and key near-term resistance
*RES 1: 116.84 High Apr 23
*PRICE: 115.80 @ 16:32 BST Apr 28
*SUP 1: 115.73 Low Apr 28
*SUP 2: 115.55 Low Apr 24
*SUP 3: 115.37 0.765 projection of Mar 25 - Apr 2 decline from Apr 7 high
*SUP 4: 114.85 Apr 2017 low
EURJPY remains vulnerable following last week's sell-off and break of major
support at 115.87, the Sep 3 2019 low and last year's low print. The break of
this level has reinforced 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, firm
resistance is at 117.22, Apr 22 high.

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.