Free Trial

21-DMA Now Capping *RES 4:.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 21-DMA Now Capping
*RES 4: Y111.75 55-DMA 
*RES 3: Y111.71 200-DMA 
*RES 2: Y111.23 High Jan 22 
*RES 1: Y110.40 21-DMA
*PRICE: Y110.01 @ 0530GMT
*SUP 1: Y109.90 Hourly resistance Feb 2 now support 
*SUP 2: Y109.23 Hourly support Feb 1 
*SUP 3: Y108.87 Hourly support Jan 31 
*SUP 4: Y108.40 Low Jan 30
*COMMENTARY: Bulls take comfort in hesitation ahead of recent 2018 lows with
follow through lacking as support emerged on dips. The 21-DMA capped Friday
which is less than ideal with bulls now needing a close above to confirm focus
on Y111.22-112.66 where key DMAs and the bear channel top are situated.
Correcting O/S studies add to bullish confidence. Bears now look for a close
below Y109.23 to return initial focus to Y108.12-40.

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.