Free Trial

AUSSIE-YEN TECHS: Bears Initially Focused On Nov.....>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Bears Initially Focused On Nov Lows
*RES 4: Y86.19 - High Dec 5 
*RES 3: Y85.68 - High Dec 6 
*RES 2: Y85.36 - Hourly resistance Dec 6a 
*RES 1: Y85.19 - Hourly resistance Dec 6
*PRICE: Y84.91 @ 2030GMT
*SUP 1: Y84.65 - Low Nov 30
*SUP 2: Y84.33 - Monthly Low Nov 27
*SUP 3: Y83.77 - Daily Bear channel base
*SUP 4: Y83.72 - Low June 22
*COMMENTARY: The recovery from recent 5mth lows continues to struggle around the
200-DMA with follow through lacking on pops above. The likely close below Y85.34
leaves the pair looking heavy. Bears now look for a close below Y84.33 to
initially pressure Y83.72-77 where the daily bears channel base is noted. Below
Y83.72 to confirm focus on tests of Y81.46-76 where 2017 lows are noted. Bulls
now need a close above Y85.36 to ease bearish pressure.

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.