Free Trial

Above Y107.19 To Ease Bearish......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Above Y107.19 To Ease Bearish Pressure
*RES 4: Y109.78 High Feb 8 
*RES 3: Y108.42 Low Feb 12 now resistance 
*RES 2: Y108.03 Low Feb 9 now resistance 
*RES 1: Y107.19 High Mar 1
*PRICE: Y106.60 @ 2030GMT
*SUP 1: Y106.56 Hourly support Mar 12 
*SUP 2: Y105.79 Hourly support Mar 7 
*SUP 3: Y105.22 2018 Low Mar 2 
*SUP 4: Y101.15 Monthly Low Nov 9 2016
*COMMENTARY: Hesitation and a lack of follow through on recent 2018 lows is less
than ideal for bears who are currently focused on Y98.95-101.15. In saying that,
resistance layers remain with bulls needing a close above Y107.19 to ease
bearish pressure. Above Y108.03 is needed to hint at a correction to
Y109.79-110.47 with above Y108.42 to confirm. Bears continue to look for a close
below Y105.22 to add weight to their case for a test of Y98.95-101.15.

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.