Free Trial

A Close Above 200-DMA To Target....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: A Close Above 200-DMA To Target 21 & 55-DMAs
*RES 4: Y112.92 21-DMA 
*RES 3: Y112.65 55-DMA 
*RES 2: Y111.87 Low Nov 20 now resistance 
*RES 1: Y112.18 Hourly resistance Nov 22, Bear channel top
*PRICE: Y111.85 @ 2000GMT
*SUP 1: Y111.68 200-DMA 
*SUP 2: Y111.35 Low Nov 29 
*SUP 3: Y110.84 Hourly support Nov 24 
*SUP 4: Y110.30 Daily Bear channel base
*COMMENTARY: Pressure returning to the 200-DMA has resulted in a break above
with bulls looking for a close above now to add support to the case for a
correction back to 55 & 21-DMAs. Correcting O/S studies add to the bigger
correction risk. Initial support is now noted at the 200-DMA but bears need a
close below Y111.35 Wednesday lows to signal a false break and reconfirm initial
focus on Y110.30-84 where the bear channel base is situated.

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.