Free Trial

Still Trying To Break Clear Of.......>

EURO-YEN TECHS
EURO-YEN TECHS: Still Trying To Break Clear Of Y130.62-Y130.77 Highs
*RES 4: Y131.52 1.618 swing of Y130.51-Y128.87
*RES 3: Y131.00 1% volatility band
*RES 2: Y130.77 Jul 11 high 
*RES 1: Y130.59/62 Jul 25, Jul 26 highs
*PRICE: Y130.46 @0927GMT
*SUP 1: Y129.94 Jul 26 low
*SUP 2: Y129.58 Initial recovery high Jul 25, now support
*SUP 3: Y129.25 Jul 25 low
*SUP 4: Y128.87 Jul 24 low 
*COMMENTARY* Still trying to find the strength for a retest to the month's
earlier Y130.77 high. The latest rally stalling at the earlier Y130.62 level.
Still favoured while pullbacks are held above yesterday's Y129.94 low, a further
move through Y130.77 then allowing a look at Y131.00-Y131.52 next. This a
combination of the upper 1% volatility band and the swing of the Y130.51-Y128.87
fall. Loss of Y129.94 will caution, Y129.58-Y129.25 then next to watch below.

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.