CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Remains Vulnerable Despite Recovering Off Lows

EURO-YEN TECHS
  • RES 4: 128.69 61.8% retracement of the 2018 - 2020 downtrend
  • RES 3: 127.50 High Mar 1, 2019
  • RES 2: 127.08 High Sep 1 and key resistance
  • RES 1: 126.02 High Sep 3
  • PRICE: 125.51 @ 10:44 BST Sep 10
  • SUP 1: 124.44/43 Low Aug 21 and the reversal trigger / Intraday low
  • SUP 2: 124.34 Low Aug 10/11 and a key support
  • SUP 3: 124.22 50-day EMA
  • SUP 4: 123.19 50.0% retracement of the Jun 22 - Sep 1 rally

EURJPY remains vulnerable but has recovered off recent lows. Attention is on a key support at 124.44, Aug 21 low that was probed yesterday. A break would indicate a more meaningful reversal and signal scope for a deeper pullback potentially down to 123.19, a Fibonacci retracement. On the upside, initial resistance is at 126.02, Sep 3 high.The key resistance though and trigger for a resumption of the uptrend is at 127.08, Sep 1 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.