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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.
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Free AccessMNI ASIA OPEN: 25Bp Cut Still Expected From FOMC Wednesday
MNI ASIA MARKETS ANALYSIS: Ylds Climb to 3W Highs Ahead FOMC
Trendline resistance break needed....>
EURO-YEN TECHS: Trendline resistance break needed to extend downtrend:
*RES 3: 123.18 High Jun 11 and key resistance
*RES 2: 123.08 38.2% Fibonacci retracement of the Apr 17-Jun 3 decline
*RES 1: 122.25/47 Trendline resistance drawn off the Apr 17 high and intraday
high
*PRICE: 121.74 @ 15:57 GMT June 25
*SUP 1: 121.76/77 200-hma/100-hma
*SUP 2: 120.95 Low Jun 21
*SUP 3: 120.90 2% Lower Bollinger band
The cross looks to confirm recent bearish signals by closing below the breached
trendline resistance off the Apr 17 high at 122.25, opening a return to recent
lows of 120.95 and beyond. Support at the 200 & 100-hmas need to be taken out
first, which could accelerate any downmove. The Tuesday high of 122.47 marks an
important resistance level and a break would again signal a trendline break and
reinforce the bullish engulfing reversal candle from Jun 21.
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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.