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Free AccessRally Faltering Below................>
EURO-YEN TECHS: Rally Faltering Below Y128.80-Y128.90 Resistance
*RES 4: Y129.78 76.4% Fibo of 131.38-124.62
*RES 3: Y129.23 May 8 low, now resistance
*RES 2: Y128.80/90 61.8% Fibo of 131.38-124.62, 1% vol band
*RES 1: Y128.70 Jun 4 high
*PRICE: Y127.96 @1557GMT
*SUP 1: Y127.80/90 Hourly support
*SUP 2: Y127.58 Hourly base Jun 1
*SUP 3: Y127.13/18 Jun 1 low, hourly low Jun 1
*SUP 4: Y126.81 Hourly base May 31
*COMMENTARY* Continued to regain ground, following last week's exhaustion spike
to the base of the 4 month bear channel. The next resistance to note is from the
61.8% Fibo retrace of the Y131.38-Y124.62 fall, at Y128.80 and the 1% volatility
band at Y128.90. This ahead of the May 8 low at Y129.23. As a consequence,
support also rises, Y127.90-Y127.80 initially, Y127.58 thereafter, with the
Y127.18-Y127.13 area remaining of more importance below.
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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.