Free Trial

Volatile Swings *RES 4: 122.37.......>

EURO-YEN TECHS
EURO-YEN TECHS: Volatile Swings
*RES 4: 122.37 High Jan 21
*RES 3: 122.01 High Feb 22
*RES 2: 121.04 High Feb 27
*RES 1: 120.65 High Mar 16
*PRICE: 117.84 @ 16:50 GMT Mar 17
*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 early last week, breaking sharply lower as risk
aversion spiked. Last 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 with the
cross extremely volatile. 120.65, Monday's high marks an initial bull trigger.
Key support and the bear trigger 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.