Free Trial

Volatile Price Action *RES 4:........>

EURO-YEN TECHS
EURO-YEN TECHS: Volatile Price Action
*RES 4: 120.95 High Mar 3
*RES 3: 120.19 50-day EMA
*RES 2: 120.00 High Mar 5
*RES 1: 119.23/24 High Mar 9 / Intraday high
*PRICE: 118.74 @ 06:26 GMT Mar 10
*SUP 1: 116.81 Intraday low
*SUP 2: 116.13 Low Mar 9 / Sep 4
*SUP 3: 115.87 Low Sep 3 and major support
*SUP 4: 115.32 1.382 projection of Jan 16 - Feb 18 move from Feb 20 high
EURJPY resumed its bearish theme Monday, breaking sharply lower as risk aversion
spiked once again. Today, we are experiencing a sharp reversal as the Yen comes
under pressure and volatile activity is maintained. Attention shifts to
resistance at the 119.23 level, yesterday's high that has been tested overnight.
A break would signal scope for gains towards 120.00 initially, Mar 5 high. Key
support has been defined at yesterday's 116.13 low.

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.