Free Trial

The cross has maintained a firmer....>

EURO-YEN TECHS
EURO-YEN TECHS: The cross has maintained a firmer tone today rebounding off
120.28. Today's gains thus far highlight the fact that the key channel base has
so far managed to hold. The channel base intersects at 120.36 today and was
tested earlier today as well as on Friday. Although today's gains are
encouraging for bulls, a break of the 122.02, Jan 2 high is needed to more
convincingly reestablish a bullish tone. On the downside, bulls nevertheless
have a clear risk parameter at Friday's low of 120.17 against which to gauge
short-term directional pressure. A break of 120.17 would confirm a bearish
channel breakout.

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.