Free Trial

Trendline resistance key at the......>

EURO-YEN TECHS
EURO-YEN TECHS: Trendline resistance key at the close:
*RES 4: 123.75 High May 21
*RES 3: 123.18 High Jun 11 and key resistance
*RES 2: 123.81 38.2% Fibonacci retracement of the Apr 17-Jun 3 decline
*RES 1: 122.34 Trendline resistance drawn off the Apr 17 high
*PRICE: 122.30 @ 09:13 GMT June 24
*SUP 1: 121.92 Intraday low
*SUP 2: 121.53 100-hma
*SUP 3: 120.95 Low Jun 21
*SUP 4: 120.78 Low Jun 13
EURJPY pushed higher through Europe, taking out trendline resistance at 122.34.
A daily close above here would mark an important bullish development and pave
the way for fresh short-term upside. Note too that Friday's price action
confirmed a bullish engulfing reversal candle pattern, reinforcing the current
developing theme. Failure to hold 122 brings the 100-hma back into view at
121.53.

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.