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AUSSIE-YEN TECHS: Resistance Layers Accumulating.....>
AUSSIE-YEN TECHS: Resistance Layers Accumulating
*RES 4: Y83.63 - High June 14
*RES 3: Y83.37 - Hourly resistance June 14
*RES 2: Y82.97 - Hourly support June 14 now resistance
*RES 1: Y82.49 - Hourly resistance June 15
*PRICE: Y82.05 @ 2130GMT
*SUP 1: Y81.89 - Low June 18
*SUP 2: Y81.04 - Low May 30
*SUP 3: Y80.77 - Low Mar 28
*SUP 4: Y80.51 - 2018 Low Mar 23
*COMMENTARY: Pressure returning to the 55-DMA (Y82.79) resulted in a close below
Thursday, ending bullish hopes and shifting focus back to Y80.51-81.04.
Correcting O/B studies add weight to the bearish case with room to move before
O/S is an issue. Bulls need a close above Y82.97 to gain breathing room and
above Y83.63 to shift focus back to layers of resistance Y83.98-84.53.
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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.