Free Trial

Y130.11-Y130.40 Provides.............>

EURO-YEN TECHS
EURO-YEN TECHS: Y130.11-Y130.40 Provides Resistance To Near Term Recovery
*RES 4: Y131.35 Sep 1 high
*RES 3: Y130.71 Aug 31 low, Sep 4 high
*RES 2: Y130.40 Hourly congestion Sep 4
*RES 1: Y130.11/18 Sep 4 low, intraday high
*PRICE: Y129.91 @1549GMT
*SUP 1: Y129.37 Sep 5 low
*SUP 2: Y129.12/19 1% vol, 61.8% Y127.56-Y131.71, Aug 22 high
*SUP 3: Y128.54 76.4% Fibo of Y127.56-Y131.71
*SUP 4: Y127.82 2% volatility band
*COMMENTARY* Undergoing some correction of last month's Y127.56-Y131.71 rise.
Tuesday's loss of Y130.14 giving the downside some further impetus, a low of
Y129.37 recorded before some hourly oversold conditions came to the fore. Still
requires a move back above Y130.11-Y130.40 however, before any real confidence
in a recovery will appear. Through here and Y130.71 then the next barrier to
cross. Below Y129.37 and the correction continues, Y129.19-Y128.54 next.

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.