Free Trial

Tuesday's Y132.12 Low Becomes Key....>

EURO-YEN TECHS
EURO-YEN TECHS: Tuesday's Y132.12 Low Becomes Key Intraday Support
*RES 4: Y133.80/86 Feb 12 high, 38.2% of Y137.51-Y131.61
*RES 3: Y133.39 Feb 14 high 
*RES 2: Y133.06/11 Intraday, Feb 16 high 
*RES 1: Y132.80/90 Hourly resistance
*PRICE: Y132.55 @0955GMT
*SUP 1: Y132.12 Feb 20 low
*SUP 2: Y131.81 Feb 16 low
*SUP 3: Y131.45 1% volatility band
*SUP 4: Y131.17 Nov 17 low
*COMMENTARY* A fresh rally today, a high of Y133.06 but this still leaves us
below the Feb 14 high at Y133.39. Will need to post gains back above here,
before any confidence in the topside will be restored. Have seen a swift move
down since, Tuesday's Y132.12 low is now the protection against a renewed
downside push, Y131.81-Y131.45 the next levels lower, ahead of the Nov 17 low at
Y131.17. Meanwhile, Y132.80-Y132.90 provides nearest resistance.

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.