Free Trial

Y134.59 Resistance Now Key *RES 4:...>

EURO-YEN TECHS
EURO-YEN TECHS: Y134.59 Resistance Now Key
*RES 4: Y135.84 Low Oct 21 2015 now resistance
*RES 3: Y134.59 Monthly High Dec 4 2015
*RES 2: Y134.41 2017 High Sept 22
*RES 1: Y134.25 High Sept 25
*PRICE: Y133.92 @ 0210GMT
*SUP 1: Y133.83 Hourly resistance Oct 20 now support 
*SUP 2: Y133.44 Hourly resistance Oct 20 now support a 
*SUP 3: Y132.91 Hourly support Oct 19 
*SUP 4: Y132.44 Alternating hourly support/resistance
*COMMENTARY: The sell-off from last week's Y133.49 topside failure resulted in a
break of Y131.74 but follow through was lacking. The rally Wednesday managed a
close above the 21-DMA with gains continuing and focus now having shifted to
Y134.25-59 where 2017 and monthly highs are situated. Layers of support are
building with bears needing a close below Y133.44 to gain breathing room and
below Y132.91 to hint at a deeper sell-off targeting Y131.65.

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.