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Free AccessAbove Y110.77 To Gain Breathing....>
DOLLAR-YEN TECHS: Above Y110.77 To Gain Breathing Room
*RES 4: Y112.23 200-DMA
*RES 3: Y111.70 Hourly support July 26 now resistance
*RES 2: Y111.39 Hourly resistance July 27
*RES 1: Y110.77 High July 31
*PRICE: Y110.55 @ 0210GMT
*SUP 1: Y110.30 Hourly support Aug 2
*SUP 2: Y109.91 Low Aug 1
*SUP 3: Y109.70 55-WMA
*SUP 4: Y109.25 Low June 15
*COMMENTARY: The lack of follow through on the break of Y110.34 is less than
ideal for bears given daily studies looking to correct from modestly O/S levels.
Layers of resistance remain with bulls needing a close above Y110.77 to gain
breathing room and hint at a bounce back to layers of resistance Y111.39-112.23
where DMAs are located. Initial support is noted at Y110.30 with bears needing a
close below to retain focus on Y108.69-109.70.
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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.