Free Trial

Sustained Break Of Y127.61...........>

EURO-YEN TECHS: Sustained Break Of Y127.61 Resistance Needed Here
*RES 4: Y128.80 61.8% Fibo of 131.38-124.62
*RES 3: Y128.53/54 May 25, May 28 highs
*RES 2: Y128.00 50% Fibo of 131.38-124.62
*RES 1: Y127.61/73 76.4% of Y128.54-Y124.62, intraday high
*PRICE: Y127.50 @0930GMT
*SUP 1: Y127.10/20 Hourly support
*SUP 2: Y126.70/75 Hourly congestion May 30-31
*SUP 3: Y126.46 Intraday low
*SUP 4: Y126.24 Hourly high/low May 30
*COMMENTARY* Has wasted no time in reclaiming ground back above the lower 2%
volatility band, at Y125.77 by time today. Latest rise to Y127.73 is trying to
sustain a break above the 76.4% Fibo retrace level at Y127.61. This would be key
as further correction potential would then switch to retracements of the
Y131.38-Y124.62 fall. Meanwhile, Y127.20-Y127.10 provides initial support,
Y126.75-Y126.70 of more interest below.

To read the full story



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.