Free Trial

Approaching 105.00: *RES 4: 107.46.......>

DOLLAR-YEN
DOLLAR-YEN: Approaching 105.00:
*RES 4: 107.46 21-dma
*RES 3: 107.21/29 Low Jul 18/50% retracement of the Aug fall
*RES 2: 107.09 High Aug 06
*RES 1: 106.47 High Aug 7
*PRICE: 105.40 @ 04:59 GMT Aug 12
*SUP 1: 105.27 Low Aug 9
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
*SUP 4: 104.56 Low Mar 26 2018
USDJPY breached the key 105.50 level with the downtrend extending to 105.27 on
Friday. Technical indicators continue to display a bearish outlook, returning
the focus to the psychological 105.00 level, ahead of the flash crash ytd low at
104.87. Bulls need to clear last Tuesday's high at 107.09 to signal scope for a
corrective recovery towards the 50% retracement of the Aug fall at 107.29.

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.