Free Trial

Recovery Falters Below 76.4% Fibo....>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery Falters Below 76.4% Fibo Level At Y131.16
*RES 4: Y131.71 Aug 30 high
*RES 3: Y131.35 Sep 1 high
*RES 2: Y131.16 76.4% Fibo of Y131.71-Y129.37
*RES 1: Y130.70/80 Hourly resistance
*PRICE: Y130.11 @1535GMT
*SUP 1: Y129.80/90 Hourly support
*SUP 2: Y129.27/37 1% volatility band, Sep 5 low
*SUP 3: Y129.15/19 61.8% of Y127.56-Y131.71, Aug 22 high
*SUP 4: Y128.54 76.4% Fibo of Y127.56-Y131.71
*COMMENTARY* Underwent some correction of last month's Y127.56-Y131.71 rise.
Tuesday's loss of Y130.14 giving the downside some further impetus, a low of
Y129.37 recorded before some hourly oversold conditions came to the fore. The
subsequent move back above Y130.45-55 has seen a recovery, which has today
faltered beneath the 76.4% Fibo level at Y131.16. Support rises to Y129.80-90,
this protecting another fall toward Y129.37-Y129.15. The latter remains key. 

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.