Free Trial

AUSSIE-YEN TECHS: Bears Need Close Below 100-DMA.....>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Bears Need Close Below 100-DMA
*RES 4: Y88.69 - High Oct 24 
*RES 3: Y88.37 - Low Oct 19 now resistance 
*RES 2: Y88.07 - 21-DMA 
*RES 1: Y87.76 - 55-DMA
*PRICE: Y87.38 @ 2030GMT
*SUP 1: Y87.23 - Low Oct 10
*SUP 2: Y87.17 - 100-DMA
*SUP 3: Y86.54 - Low Sept 26, Bear channel base
*SUP 4: Y85.94 - 200-DMA
*COMMENTARY: Topside follow through has been lacking so far this week resulting
in closes below 55 & 21-DMAs and bull channel base (Y88.04) that sees immediate
focus now on the 100-DMA. Bears look for a close below the 100-DMA to add weight
to the case for a move back to Y85.45-94 where the 200-DMA is noted. Bulls need
a close above the 55-DMA to gain breathing room and above Y88.37 to confirm a
correction back to Y89.06.

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.