Free Trial

AUSSIE-YEN TECHS: Capped Ahead Of Key Resistance.....>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Capped Ahead Of Key Resistance Levels
*RES 4: Y87.10 - 100-DMA 
*RES 3: Y86.86 - Daily Bear channel top 
*RES 2: Y86.71 - 55-DMA 
*RES 1: Y86.58 - High Nov 15
*PRICE: Y86.05 @ 2030GMT
*SUP 1: Y85.64 - Low Dec 13
*SUP 2: Y85.52 - Hourly resistance Dec 12 now support
*SUP 3: Y85.05 - Hourly resistance Dec 8 now support
*SUP 4: Y84.65 - Low Nov 30
*COMMENTARY: Despite gaining confidence on the recovery from Y84.65 hesitation
ahead of the Y86.58-87.10 region where the 55 & 100-DMAs and bear channel top
are located is a concern with the Bollinger top noted at (Y86.09). Bulls
continue to look for a close above the 100-DMA to shift focus to Y87.67-89.06.
The Y85.05-64 support region is key with bears needing a close below Y85.05 to
reconfirm focus on Y83.43-84.33 where the bear channel base (Y83.43) 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.