Free Trial

Topside Failures Weighing, 100-DMA...>

EURO-YEN TECHS
EURO-YEN TECHS: Topside Failures Weighing, 100-DMA Support Key
*RES 4: Y136.62 2018 High Jan 5
*RES 3: Y136.32 High Jan 8
*RES 2: Y135.46 Hourly resistance Jan 26
*RES 1: Y135.01 Hourly resistance Jan 29
*PRICE: Y134.54 @ 0530GMT
*SUP 1: Y134.31 Low Jan 29 
*SUP 2: Y134.03 55-DMA 
*SUP 3: Y133.91 Daily bull channel base (off Aug 18 low) 
*SUP 4: Y133.43 100-DMA
*COMMENTARY: Topside failures ahead of Y136.32-62 took their toll with a break
of Y134.81 increasing the risk of a correction initially to Y133.43-134.03 where
55 & 100-DMAs and the bull channel base are situated. Initial resistance is
noted at Y135.01 but bulls continue to look for a close above Y136.62 to confirm
focus on Y139.02-141.05 monthly highs last seen in 2015. Bears need a close
below the 100-DMA to target Y130.26-132.03 where the 200-DMA is noted.

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.