Free Trial

Bearish Outlook USDJPY breached....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Outlook
USDJPY breached the 112.00 level with ease, extending the downtrend through
111.50. A close below the 100-dma (112.41) now seems a formality, turning the
outlook more bearish. Downside focus turns to the Oct 26 low at 111.38, expect
support behind on approach to 111.00, ahead of the 200-dma at 110.89. Bulls need
to recover the 100-dma to stabilise the short-term outlook. A break of 113.00 is
required before targeting a move back to the Dec 3 high & down trendline
resistance at 113.85/86.

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.