Free Trial

Back Below 112 USDJPY attempted....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Back Below 112
USDJPY attempted to stage a bullish breakout in early Asian trading, taking out
the March 5 high and reaching as high as 112.17 before selling pressure took the
pair back below 112. The broader bullish trend remains intact though with the
76.4% retracement of the Oct - Jan fall at 112.25 coming in at, ahead of the Dec
20 high at 112.60. Bears look for a close back under 112 to suggest a potential
downside reversal, with a break below the 200-dma at 111.52 needed to give them
the edge.

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.