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Free AccessPullback Tests The Resolve Of Key....>
EURO-YEN TECHS: Pullback Tests The Resolve Of Key Y132.11-Y132.04 Support
*RES 4: Y133.79 1% volatility band
*RES 3: Y133.23 50% Fibo of Y137.51-Y128.95
*RES 2: Y133.09 Apr 19 high
*RES 1: Y132.80/85 Hourly resistance
*PRICE: Y132.70 @1710GMT
*SUP 1: Y132.04/11 Apr 20, Apr 17 lows
*SUP 2: Y131.81 Apr 12 low
*SUP 3: Y131.50/55 Congestion area Apr 5-Apr 9
*SUP 4: Y131.07/11 Apr 5-Apr 6 lows
*COMMENTARY* The move back above Y132.98 last Thursday removed the immediate
threat posed by the 'Doji' candle close on Monday. That said, we have since
faltered beneath the next area of decent resistance from between the 50% Fibo
retrace at Y133.23 and the 1% volatility band at Y133.79. Meanwhile, support
from Y132.35 has been lost, which puts pressure back on now key near term
support from Y132.11-Y132.04. In the interim, Y132.80-Y132.85 resistance.
To read the full story
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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.