Free Trial

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

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 107.46 key support:
*RES 4: 109.32 High Aug 1and key resistance
*RES 3: 109.00 Round number resistance
*RES 2: 108.48 Sep 18 High and bull trigger
*RES 1: 108.09 High Sep 20
*PRICE: 107.73 @ 04:40 GMT Sep 23
*SUP 1: 107.46 Low Sep 16 and key intraday support
*SUP 2: 107.23 High Sep 5
*SUP 3: 106.98 High Aug 13 and former breakout level
*SUP 4: 106.47 50% retracement of Aug 26 - Sep 18 rally
USDJPY ended the week in retracement mode after finding resistance at 108.48,
Sep 18 high. The pullback is viewed as a correction with bullish trend
conditions continuing to dominate. The focus is on 109.00 & 109.32 as the next
objectives. The bull trigger is at 108.48, Sep 18 high where a break would
confirm a resumption of the uptrend. Thursday's candle is a bearish engulfing &
a concern for bulls. Key support & the risk parameter for bulls is at 107.46.

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.