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Free AccessTopside Failure Ahead Of Key.........>
EURO-YEN TECHS: Topside Failure Ahead Of Key Resistance
*RES 4: Y134.50 2017 High Oct 25
*RES 3: Y133.88 High Dec 11
*RES 2: Y133.11 Hourly support Dec 14 now resistance
*RES 1: Y132.84 Low Dec 13 now resistance
*PRICE: Y132.26 @ 2000GMT
*SUP 1: Y132.13 Daily Bull channel base off Aug Low
*SUP 2: Y131.82 100-DMA
*SUP 3: Y131.71 Low Nov 28
*SUP 4: Y131.21 Low Nov 23
*COMMENTARY: The previously noted Y133.88 res confirmed significance with the
pair capped and looking heavy once more as pressure returns to layers of support
Y130.59-132.25 where the bull channel base, 100-DMA and 21-WMA are noted. Bears
still need a close below Y131.71 to hint at a move back to the 200-DMA (Y127.63)
with below Y130.59 confirming. Layers of resistance are building with bulls now
needing a close above Y133.11 to ease pressure on key supports.
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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.