Free Trial

AUSSIE-YEN TECHS: 21-DMA Remains Key Resistance......>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: 21-DMA Remains Key Resistance
*RES 4: Y83.15 - High Apr 20 
*RES 3: Y82.55 - 21-DMA 
*RES 2: Y82.53 - High May 1 
*RES 1: Y82.00 - High May 9
*PRICE: Y81.85 @ 2130GMT
*SUP 1: Y81.13 - Low May 9
*SUP 2: Y80.77 - Low Mar 28
*SUP 3: Y80.51 - 2018 Low Mar 23
*SUP 4: Y80.24 - Low Nov 11 2016
*COMMENTARY: The lack of follow through on Tuesday's relatively bearish close is
less than ideal for bears as daily studies correct from modestly O/S levels. The
Y82.00 resistance is key today with bulls now needing a close above to gain
breathing room. Bulls then need a close above the 21-DMA to shift focus back to
Y83.94-84.06. Bears currently focus on the break of Y80.24 needed to shift
immediate focus to Y76.78 Nov 2016 monthly lows.

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.