Free Trial

Remains Soft *RES 4: 122.37 High.....>

EURO-YEN TECHS
EURO-YEN TECHS: Remains Soft
*RES 4: 122.37 High Jan 21 and key near-term resistance
*RES 3: 122.01 High Jan 22
*RES 2: 121.26 Former channel base drawn off the Sep 3 low
*RES 1: 120.42 High Jan 29
*PRICE: 119.95 @ 17:12 GMT Jan 30
*SUP 1: 119.80 Intraday low
*SUP 2: 119.58 Low Nov 25
*SUP 3: 119.25 Low Nov 14 and key support
*SUP 4: 118.73 Low Oct 11
EURJPY edged lower Thursday. Last week's sell-off resulted in a breach of the
key bull channel base at 121.01 and this continues to weigh on the cross. The
channel is drawn off the Sep 3 low. Furthermore, price has also this week traded
below the early Jan low of 120.17 strengthening bearish conditions. Continued
weakness would open 119.58 and 119.25. The latter is the Nov 14 low and a key
support. 121.26 is resistance, the former channel base.

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.