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Free AccessPullback Has So Far Held.............>
EURO-YEN TECHS: Pullback Has So Far Held Y132.35-Y132.11 Support
*RES 4: Y133.73/80 1% volatility band, Feb 12 high
*RES 3: Y133.52 1.618 swing Y132.98-Y132.11
*RES 2: Y133.23 50% Fibo of Y137.51-Y128.95
*RES 1: Y133.09 Apr 19 high
*PRICE: Y132.52 @0902GMT
*SUP 1: Y132.35/36 Hourly support, Apr 19 low
*SUP 2: Y132.11/12 Apr 16, Apr 15 lows
*SUP 3: Y131.81 Apr 12 low
*SUP 4: Y131.50/55 Congestion area Apr 5-Apr 9
*COMMENTARY* The move back above Y132.98 on Thursday removed the immediate
threat posed by the 'Doji' candle close on Monday. That said, we are now
approaching the next area of decent resistance from between the 50% Fibo retrace
at Y133.23 and the 1% volatility band at Y133.73. In the meantime, support is
evident from above Y132.35 and a loss of the latter would concern and once again
put pressure on now key near term support from Y132.11.
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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.