Free Trial

112 Proves Key Support Thursday....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 112 Proves Key Support
Thursday trade was a far more subdued affair than Wednesday trade, with the rate
sticking to a tight 112-112.50 range. 112 provided relatively strong support and
below there the 50-dma at 111.83 will prove influential. A break below here
would strengthen the bearish case, opening the up trendline & 100-dma support at
111.26 and raising the prospect of a bearish reversal pattern. Bulls need to
recover the 21-dma at 112.93 to target 114 and return the focus to the upside
and the Oct 4 & Nov 2017 highs at 114.55/73.

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.