Free Trial

112.14 Fibo Support Continues to...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 112.14 Fibo Support Continues to Hold
USDJPY came under pressure yesterday briefly breaking below the 112 level but
closing above it. Today support has held around the 23.6% YTD Fibo level at
112.19 with a low of 112.14. Bears need a close back below 112 before
challenging up trendline support at 111.78. The 100-dma is placed behind at
111.44, a break of which raises the prospect of a reversal pattern. Bulls need
to recover yesterday's high at 112.73 to resume any recovery.

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.