Free Trial

AUSSIE-YEN TECHS: Topside Follow Through Lacking.....>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Topside Follow Through Lacking
*RES 4: Y89.67 - High Sept 25 
*RES 3: Y89.23 - Bollinger band top 
*RES 2: Y89.00 - High Oct 19 
*RES 1: Y88.74 - Hourly resistance Oct 19
*PRICE: Y88.59 @ 2000GMT
*SUP 1: Y88.37 - Low Oct 19
*SUP 2: Y88.21 - Hourly resistance Oct 18 now support
*SUP 3: Y87.73 - Daily Bull channel base
*SUP 4: Y87.66 - 55-DMA
*COMMENTARY: Bulls managed a break of the key Y88.90 resistance but follow
through has so far been lacking. Support layers are starting to build with bears
needing a close below Y88.21 to confirm a break of the 21-DMA (Y88.23) and shift
focus back to Y87.23-73 where the 55-DMA and bull channel base are situated.
Bulls now look for a close above Y89.00 to confirm focus on Y89.67-90.30.

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.