Free Trial

200-DMA Support Remains Key *RES...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 200-DMA Support Remains Key
*RES 4: Y114.23 Bollinger band top 
*RES 3: Y113.70 Low July 11 now resistance 
*RES 2: Y113.26 High Sept 27 
*RES 1: Y112.95 Hourly resistance Oct 3
*PRICE: Y112.76 @ 0210GMT
*SUP 1: Y112.65 Hourly support Oct 4 
*SUP 2: Y112.33 Low Oct 4 
*SUP 3: Y112.22 Low Sept 29 
*SUP 4: Y111.93 200-DMA
*COMMENTARY: The Y113.26 resistance remains a key concern for bulls with
hesitation ahead of this level continuing and resulting in a dip Wednesday.
Bulls need a close above Y113.26 to add support to their case for a test of July
highs with above Y113.70 confirming. Bears continue to look for a close below
Y112.22 to ease bullish pressure and below the 200-DMA to hint at a move back to
key DMAs Y110.57-111.06 with below Y111.48 to confirm.

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.