Free Trial

AUSSIE-YEN TECHS: Bears Still Need Close Below.......>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Bears Still Need Close Below Y88.22
*RES 4: Y90.30 - 2017 High Sept 21 
*RES 3: Y89.67 - High Sept 25 
*RES 2: Y89.57 - Daily Bull channel top 
*RES 1: Y89.09 - High Oct 23
*PRICE: Y88.61 @ 2030GMT
*SUP 1: Y88.42 - Hourly resistance Jan 4 now support
*SUP 2: Y88.22 - Hourly support Jan 4
*SUP 3: Y87.52 - High Dec 22 now support
*SUP 4: Y87.18 - 100-DMA
*COMMENTARY: Gains continue with pressure on the 100-DMA in recent weeks taking
its toll and the close above shifting overall focus to tests of 2017 highs
(Y90.30). O/B daily studies looking to correct are the key concern for bulls
which makes Monday's topside hesitation a worry. Bears still need a close below
Y88.22 to gain breathing room and below Y87.52 to shift focus back to the 55-DMA
(Y86.56).

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.