Free Trial

Rally Still Faces Several............>

EURO-YEN TECHS
EURO-YEN TECHS: Rally Still Faces Several Obstacles Between Y134.17-Y134.69
*RES 4: Y134.69 Median line drawn off Apr,Jun lows, Aug highs
*RES 3: Y134.61 November 2015 high
*RES 2: Y134.41 61.8% Fibo of Y149.80-Y109.51
*RES 1: Y134.17 Sep 19 high
*PRICE: Y134.05 @1516GMT
*SUP 1: Y133.26/27 Sep 20, Sep 19 lows
*SUP 2: Y132.95 Hourly low Sep 18
*SUP 3: Y132.63 Sep 18 low
*SUP 4: Y132.28 Hourly base Sep 15
*COMMENTARY* Fresh strength on Tuesday saw  a rally to Y134.17, in line with the
upper 2% volatility band at the time. The upside is still confronted with
several potential obstacles in the Y134's, through Y134.17 and the 61.8% Fibo
retrace and the 5 month median line present the next Y134.41 Y134.69 barrier,
with the November 2015 high at Y134.61 in between. Meanwhile, support from
Y133.26-Y132.95, protects the Sep 18 low at Y132.63.  

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.