Free Trial

Volatile Swings *RES 4: 121.04.......>

EURO-YEN TECHS
EURO-YEN TECHS: Volatile Swings
*RES 4: 121.04 High Feb 27
*RES 3: 120.05 50-day EMA
*RES 2: 120.00 High Mar 5
*RES 1: 119.85 High Mar 13
*PRICE: 119.57 @ 18:40 GMT Mar 13
*SUP 1: 116.89 Low Mar 13
*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 earlier this week, breaking sharply lower as
risk aversion spiked. Tuesday though saw a sharp reversal as JPY came under
pressure and the cross reversed Monday's downleg. The cross was softer again
Thursday but rallied Friday. Near-term direction is difficult to assess. 119.49,
the Mar 10 high has been breached and is an early bullish signal. Key support is
at 116.13, Mar 9 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.