Free Trial

109.00 Target For Bulls Despite....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 109.00 Target For Bulls
Despite touching the key 109 level in Asia, USDJPY was unable to build on gains,
keeping the near-term outlook neutral. A close above would suggest a bullish
reversal is in play, targeting broken trendline support-turned-resistance & the
Jan 2 high at 109.48/73. Bears need a close below 108.00 in order to return
focus to the 50% retracement level & Jan 3 hourly support 106.83/75.

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.