Free Trial

AUSSIE-YEN TECHS: Bears Need Close Below Y87.95......>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Bears Need Close Below Y87.95
*RES 4: Y89.47 - Low Dec 7 2015 now resistance 
*RES 3: Y89.41 - 2017 High July 27 
*RES 2: Y88.81 - High July 28 
*RES 1: Y88.56 - High Sept 12
*PRICE: Y88.26 @ 2100GMT
*SUP 1: Y87.95 - High Sept 1 now support
*SUP 2: Y87.46 - Low Sept 12
*SUP 3: Y87.33 - Hourly support Sept 11
*SUP 4: Y87.06 - Hourly support Sept 11a
*COMMENTARY: Bulls took comfort in the close above Y88.02 Tuesday and bullish
focus now on Y89.41-47. The Bollinger top (Y88.25) is the key concern for bulls
and currently limits follow through. Initial support is noted at Y87.95 with
bears needing a close below to ease immediate bullish pressure and below Y87.33
to pressure Y86.48-65 where the bull channel base is noted.

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.