Free Trial

Recovery Extends *RES 3: 122.65......>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery Extends
*RES 3: 122.65 High Dec 13 and bull trigger
*RES 2: 122.50 High Dec 27
*RES 1: 122.02 High Jan 2
*PRICE: 121.75 @ 16:05 GMT Jan 10
*SUP 1: 121.13 Low Jan 9
*SUP 2: 120.56 Bull channel base drawn off the Sep 3 low
*SUP 3: 120.17 Low Jan 3, 8 and key support
EURJPY is firmer and breached resistance at 121.45, Jan 7 high on Thursday.
Note, key channel support also continues to hold, despite a test below it in
recent sessions. The channel is drawn off the Sep 3 low and intersects at
120.56. The recovery off recent intraday lows is encouraging for bulls and the
break of 121.45 opens 122.02 next, high Jan 2. Clearance of this level would
expose 121.68, Dec 13 high and the key bull trigger. Key support is at 120.17.
Bullish!

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.