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Free AccessTopside Follow Through Lacking.......>
EURO-YEN TECHS: Topside Follow Through Lacking
*RES 4: Y141.05 Monthly High June 4 2015
*RES 3: Y140.65 High June 18 2015
*RES 2: Y139.02 Monthly High Aug 2015
*RES 1: Y136.62 2018 High Jan 5
*PRICE: Y136.14 @ 0530GMT
*SUP 1: Y135.92 Hourly support Jan 8
*SUP 2: Y135.61 High Jan 2 now support
*SUP 3: Y134.78 Low Jan 3
*SUP 4: Y134.28 Hourly support Dec 27
*COMMENTARY: Recent fresh 2+ year highs continue to add support to the bullish
case for a move targeting monthly highs Y139.02-141.05 although the lack of
follow through Friday was less than ideal. The Bolli top (Y136.66) & O/B studies
are key concerns for bulls. Layers of support remain in place with bears needing
a close below Y135.61 to ease bullish pressure and below Y134.78 to shift focus
back to Y133.88.
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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.