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Free AccessSharp Drop Turns Picture Neutral ....>
EURO-YEN TECHS: Sharp Drop Turns Picture Neutral
Tuesday's bullish breakout above 130.00 has turned into key support, with prices
holding above this level for now despite yesterday's sharp drop. A rebound back
above 130.67 is need to restore the recent bullish structure. Should 130.00 give
way, 129.71 would be the next level of support, and holding above here is
essential to provide EURJPY will a platform to re-establish bullish momentum.
Failure would threaten the major up trendline support and potentially return the
focus to the 129.13 lows.
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.