Free Trial

Rally Continues With Y133.23.........>

EURO-YEN TECHS
EURO-YEN TECHS: Rally Continues With Y133.23 Break, Eyeing Y133.80-93 Next
*RES 4: Y134.24 61.8% Fibo of Y137.51-Y128.95
*RES 3: Y133.93 1% volatility band
*RES 2: Y133.80 Feb 12 high
*RES 1: Y133.49 Intraday high
*PRICE: Y133.24 @1612GMT
*SUP 1: Y132.90/95 Hourly support
*SUP 2: Y132.57 Initial rally high Apr 23, now support
*SUP 3: Y132.25/35 Hourly congestion Apr 19-23
*SUP 4: Y132.04/11 Apr 20, Apr 17 lows
*COMMENTARY* Only have to mention 'embroiled in congested trading' and hey
presto! it produces a break. This time higher, in line with the recent trend,
since breaking above the head and shoulders neckline on Apr 5. Has moved through
Y133.09-Y133.23 resistance, possible the rally can stretch toward
Y133.80-Y133.93 next. The latter the current level of the upper 1% volatility
band, always an awkward customer. Support from Y132.90-Y132.57 should now hold.

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.