Free Trial

AUSSIE-YEN TECHS: Y82.00 Support Remains Key This....>

AUSSIE-YEN TECHS, AUSTRALIA VIEW
AUSSIE-YEN TECHS: Y82.00 Support Remains Key This Week
*RES 4: Y84.04 - High May 23 
*RES 3: Y83.88 - Hourly support May 23 now resistance 
*RES 2: Y83.54 - Hourly resistance May 23 
*RES 1: Y83.05 - Hourly resistance May 24
*PRICE: Y82.76 @ 2130GMT
*SUP 1: Y82.38 - Low May 24
*SUP 2: Y82.18 - Low May 16
*SUP 3: Y82.00 - High May 9 now support
*SUP 4: Y81.13 - Low May 9
*COMMENTARY: The lack of follow through above the 100-DMA left the pair looking
heavy Wednesday and bears capitalised with a sell-off that has so far found
support below the 55-DMA. Correcting O/B studies are a concern for bulls. Bulls
now need a close above Y83.54 to gain breathing room and above Y84.51 to add
support to the case for a test of 200-DMA & WMAs. The Y82.00 support is key this
week. Bears need a close below to target 2018 lows.

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.