Free Trial

106.00 Breached, bearish...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 106.00 Breached, bearish outlook:
*RES 4: 107.85/94 100-hma/Low Jul 24
*RES 3: 107.21 Low Jul 18
*RES 2: 106.90 Lower 1.0% 10-dma envelope
*RES 1: 106.68 Intraday high
*PRICE: 106.13 @ 15:37 GMT Aug 05
*SUP 1: 105.79/76 Intraday low/Lower Bollinger Band (3%)
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
*SUP 4: 104.56 Low Mar 26 2018
Escalating trade tensions saw USDJPY breach the 106.00 level and look to extend
its run of losses into a third straight session. The recent move below key
support in the form of the late June low, leaves bears ultimately focused on
round number support at 105.00 and the flash crash lows at 104.87. Bulls look
for a quick recovery above the 108 level to reignite upside momentum.

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.