Free Trial

AUSSIE-YEN TECHS: Bears Remain Focused On 2017 Low...>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Bears Remain Focused On 2017 Low
*RES 4: Y84.89 - High Feb 14 
*RES 3: Y84.23 - Low Feb 20 now resistance 
*RES 2: Y83.80 - High Feb 28 
*RES 1: Y83.26 - Low Feb 23 now resistance
*PRICE: Y82.80 @ 2030GMT
*SUP 1: Y82.56 - Low June 8
*SUP 2: Y81.76 - Lows May 18 & June 6 2017
*SUP 3: Y81.47 - 2017 Low May 19
*SUP 4: Y80.24 - Low Nov 11 2016
*COMMENTARY: Bears take comfort in fresh 2018 & 8mth lows that add weight to the
case for a test of Y81.47 2017 lows that have been bearish focus for the past
couple of weeks. A close below 2017 lows potentially targets Y76.80. Bulls now
need a close above Y83.26 to gain breathing room and above Y83.80 to target a
correction back to Y84.23-89 where the 21-DMA (Y85.03) is situated.

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.