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Free Access108-109 Range USDJPY eased to......>
DOLLAR-YEN TECHS: 108-109 Range
USDJPY eased to fresh weekly lows of 108.16, but with lack of follow through
recovered to the 108.25/30 area. On the downside, bears need to clear the
108.00/05 level, which holds the 76.4% retrace of the Jun6-11 recovery, Jun 6
low & 2019 support line. Below here exposes the Jun 5 low & 61.8% retracement of
the Jan-Apr rally at 107.82/75. Bulls need to recover trendline resistance & Jun
11 high at 108.65/80, before opening a run at the 109.00 level. Consolidation
above opens the 21-dma, trendline off Apr highs & 38.2% retracement at
109.03/13/23.
To read the full story
Sign up now for free trial access to this content.
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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.