Free Trial

Back Above 108.00 Risk-on flows....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Back Above 108.00
Risk-on flows were countered after the release of soft US ADP data on Wednesday.
USDJPY briefly dipped back under 108.00 on react, before recovering. Bulls look
for a close above the 100-hma at 0.8857 in the short term. Consolidation above
would cement the uptrend, opening the psychological 109 level & 38.2%
retracement at 109.27. Bears need a move back under 108.00, before challenging
the Jun 4 & Jan 10 lows at 107.85/77.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.