Free Trial

105.50 key support: *RES 4:........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 105.50 key support:
*RES 4: 107.94 Low Jul 24
*RES 3: 107.41/59 50% retracement of Aug fall/21-dma
*RES 2: 107.21 Low Jul 18
*RES 1: 107.09 High Aug 06
*PRICE: 105.88 @ 06:15 GMT Aug 09
*SUP 1: 105.50 Low Aug 07
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
USDJPY is struggling for traction above 106.00 and the key 106.30/35 area. This
keeps the longer-term downtrend intact, returning the immediate focus to
Wednesday's low at 105.50. A break here would open the psychological 105.00
level, ahead of the flash crash ytd low at 104.87. Technical indicators continue
to display a bearish outlook. Bulls need to clear recent highs at 107.09, before
challenging the 50% retracement of the Aug fall & broken trendline
support-turned-resistance drawn off the Apr 24 high at 107.41/58.

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.