Free Trial

Pullback Continues, Nears Key........>

EURO-YEN TECHS
EURO-YEN TECHS: Pullback Continues, Nears Key Y133.94-Y133.80 Area
*RES 4: Y135.98 Jan 5 low, now resistance
*RES 3: Y135.48/49 Intraday high, hourly high Jan 8
*RES 2: Y135.02 Intraday hourly recovery high
*RES 1: Y134.70/80 Hourly resistance
*PRICE: Y134.25 @1827GMT
*SUP 1: Y133.91/94 Dec 22 low, 1% volatility band
*SUP 2: Y133.80 61.8% Fibo of Y132.05-Y136.64
*SUP 3: Y133.13 76.4% Fibo of Y132.05-Y136.64
*SUP 4: Y132.95 5 month rising support line
*COMMENTARY* The fall from Friday's Y136.64 high, where the rally was chasing
the shadow of the upper 1% volatility band, has been swift, expedited by the
early loss of Y135.16-Y135.13 today and then subsequently Y134.34. This now
exposes the next support of note from between 133.94-Y133.80, the former the
current level of the lower 1% band today. In the interim, resistance from
Y134.70-Y135.02 but back above Y135.49 needed to generate upside interest.

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.