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Free AccessY129.18-130.39 Resistance Region.....>
EURO-YEN TECHS: Y129.18-130.39 Resistance Region Key
*RES 4: Y130.39 High Aug 16
*RES 3: Y129.82 Hourly resistance Aug 16
*RES 2: Y129.49 Hourly resistance Aug 17a
*RES 1: Y129.18 Hourly resistance Aug 22
*PRICE: Y128.99 @ 0430GMT
*SUP 1: Y128.82 Hourly resistance Aug 22 now support
*SUP 2: Y128.41 Alternating hourly support/resistance
*SUP 3: Y128.13 Alternating hourly support/resistance
*SUP 4: Y127.99 55-DMA
*COMMENTARY: The dip below the 55-DMA lacked follow through Friday which is a
concern given daily studies at modestly O/S levels and the proximity of the
Bollinger base (Y128.12). Bears continue to look for a close below Y127.43 to
target Y124.70-125.80 where the 100-DMA (Y125.12) is found. Layers of resistance
are building with bulls now needing a close above Y129.18 to ease immediate
bearish pressure and above Y130.39 to shift focus back to 2017 highs.
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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.