Free Trial

Still heading Lower *RES 4: 120.11...>

EURO-YEN TECHS
EURO-YEN TECHS: Still heading Lower
*RES 4: 120.11 100-dma
*RES 3: 120.01 High Sep 13 and the bull trigger
*RES 2: 118.74 Channel resistance drawn off Apr 17 high
*RES 1: 118.47 High Sep 27
*PRICE: 117.35 @ 04:39 GMT Oct 7
*SUP 1: 117.08 Low Oct 3
*SUP 2: 116.85 76.4% retracement Sep3 - Sep13 rally
*SUP 3: 116.13 Low Sep 4
*SUP 4: 115.87 Low Sep 3 and M/T bear trigger
EURJPY extended the downside last week and continues to appear vulnerable. With
former support at 117.45, Sep 27 low and 61.8% of Sep 3 - Sep 13 rally cleared,
attention turns to 116.85, 76.4% retracement. A break here would expose the key
115.87 bear trigger. On the upside, initial resistance is located at 118.47, Sep
27 high. A break of the channel top at 118.74 and of resistance at 120.01
remains the requirement for a trend reversal.

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.