Free Trial

Remains Vulnerable *RES 4: 117.94....>

EURO-YEN TECHS
EURO-YEN TECHS: Remains Vulnerable
*RES 4: 117.94 High Apr 14
*RES 3: 117.50 High Apr 16
*RES 2: 117.19/22 20-day EMA / High Apr 22 and key resistance
*RES 1: 116.51 High Apr 27
*PRICE: 115.95 @ 20:25 BST Apr 29
*SUP 1: 115.45 Intraday low
*SUP 2: 115.37 0.765 projection of Mar 25 - Apr 2 decline from Apr 7 high
*SUP 3: 115.00 Round number support
*SUP 4: 114.85 Apr 2017 low
EURJPY traded to a fresh low print of 115.45. The cross remains vulnerable
following last week's sell-off and break of major support at 115.87, Sep 3 2019
low and last year's low. The break reinforced the current bearish theme and also
represents an important technical breach, clearing the way for a move towards
115.37, a Fibonacci projection and 114.85, the Apr 2017 low. On the upside,
116.51, Apr 27 high marks initial resistance.

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.