Free Trial

Wrestling with the channel top:......>

EURO-YEN TECHS
EURO-YEN TECHS: Wrestling with the channel top:
*RES 3: 120.81 100-dma
*RES 2: 120.71 High Aug 1
*RES 1: 119.65/120.01 Bear channel resistance / High Sep 13
*PRICE: 119.59 @ 08:34 GMT Sep 18
*SUP 1: 118.69 Low Sep 16
*SUP 2: 117.56 Low Sep 12 and key near-term support
*SUP 3: 117.28 Low Sep 5
EURJPY recovered yesterday to challenge the key bear channel resistance at
119.65, drawn off the Apr 17 high. To confirm the next leg higher and a
resumption of this months up-trend, a clear channel breakout is required. The
focus is on Friday's 120.01 high, the short-term bull trigger. A break would
represent a key technical development, clearing the channel top and confirming a
more convincing trend reversal. Support for now has been defined at Monday's
118.69 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.