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Free AccessAUSSIE-YEN TECHS: Below 55-DMA To Target 2018 Low....>
AUSSIE-YEN TECHS: Below 55-DMA To Target 2018 Low
*RES 4: Y84.53 - High June 7
*RES 3: Y84.27 - Hourly resistance June 7a
*RES 2: Y83.88 - Hourly resistance June 7
*RES 1: Y83.34 - Low June 5 now resistance
*PRICE: Y83.00 @ 2130GMT
*SUP 1: Y82.65 - 55-DMA
*SUP 2: Y81.99 - Low May 31
*SUP 3: Y81.04 - Low May 30
*SUP 4: Y80.77 - Low Mar 28
*COMMENTARY: The marginal break of the Y84.51 resistance was quickly reversed
Thursday with a sell-off that leaves the pair looking offered and focus back on
the 55-DMA. The close below Y83.93 provides bears breathing room with a close
below the 55-DMA needed to end bullish hopes and shift focus back to
Y80.51-81.04 although Y81.99 may slow the move. Bulls now need a close above
Y84.18 to gain breathing room and return focus to Y84.51-89.
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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.