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Free AccessRisk takes a hit: *RES 4: 120.21.....>
EURO-YEN TECHS: Risk takes a hit:
*RES 4: 120.21 Low Jul 24
*RES 3: 120.05 Low Jul 25
*RES 2: 119.85/88 38.2% retracement of Jun-Aug fall/High Aug 06
*RES 1: 119.16/41 High Aug 8/200-hma
*PRICE: 118.28 @ 16:54 GMT Aug 09
*SUP 1: 117.93 Lower Bollinger Band (2%)
*SUP 2: 117.68 YTD low
*SUP 3: 117.02 Lower 2.0% 10-dma envelope
*SUP 4: 117.00 Psychological support
Tuesday's rejection of the 120.00 level has seen EURJPY extend the corrective
pullback toward 118.00. Momentum and technical indicators remain bearish with
key focus on support from the ytd low at 117.68, a break opens a move towards
round number support at 117.00. Bulls need a convincing break and hold of
120.00, before challenging the 50% retracement of the Jun-Aug fall at 120.52.
To read the full story
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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.