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Free AccessRally Still Faces Obstacles..........>
EURO-YEN TECHS: Rally Still Faces Obstacles Between Y134.41-Y134.87
*RES 4: Y135.39 2% volatility band
*RES 3: Y134.87 Median line drawn off Apr,Jun lows, Aug highs
*RES 2: Y134.61 November 2015 high
*RES 1: Y134.41 61.8% Fibo of Y149.80-Y109.51
*PRICE: Y134.27 @0920GMT
*SUP 1: Y133.70/80 Hourly support
*SUP 2: Y133.50 Intraday low
*SUP 3: Y133.26/27 Sep 20, Sep 19 lows
*SUP 4: Y132.95 Hourly base Sep 18
*COMMENTARY* Fresh strength on Tuesday saw Y134.17, in line with the upper 2%
volatility band at the time, this has risen to Y135.39 today. The upside is
still confronted with obstacles in the Y134's, today's move through Y134.17
challenging the 61.8% Fibo retrace at Y134.41, above which the Nov 2015 high and
the 5 month median line present the next Y134.61-Y134.87 barrier. Meanwhile,
support from Y133.80-Y133.50 should now stay intact, if rally to continue.
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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.