Free Trial

Y130.90-95 Support Keeps Immediate...>

EURO-YEN TECHS
EURO-YEN TECHS: Y130.90-95 Support Keeps Immediate Focus On Higher
*RES 4: Y133.63 76.4% Fibo of Y141.08-Y109.51
*RES 3: Y132.33/53 Jan 25 high, 2% volatility band
*RES 2: Y132.06 Underside prev broken 5 month support line
*RES 1: Y131.71 Aug 30 high
*PRICE: Y131.47 @0903GMT
*SUP 1: Y130.90/95 Hourly support, Aug 30 low
*SUP 2: Y130.45 Hourly basing area Aug 29
*SUP 3: Y130.15 Hourly congestion area Aug 28-29
*SUP 4: Y129.66 Aug 28 low
*COMMENTARY* The rally has now surpassed the previous Y131.41 high and is now
considering an assault on Y132.06-Y132.53 resistance. Has faltered so far at the
slightly earlier Y131.71 level, as the rise became dogged by near term
overbought conditions. In this respect, still look to Y130.90-95 for initial
support, this protecting against a greater Y130.45-Y130.15 fall, as we give back
some of the gains from Monday's Y128.66 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.