Free Trial

Bearish Pressure Maintained *RES...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Pressure Maintained
*RES 4: 108.50 1.0% 10-dma envelope
*RES 3: 108.16 High Jul 1 and the bull trigger
*RES 2: 107.79 High Jul 7
*RES 1: 107.40 High Jul 9
*PRICE: 107.18 @ 17:35 BST Jul 13
*SUP 1: 106.65 Low Jul 10
*SUP 2: 106.07 Low Jun 23
*SUP 3: 105.99 Low May 6 and 7 and key support
*SUP 4: 105.21 61.8% retracement of the Mar 9 - 24 rally
USDJPY maintains its current bearish threat. Last week, support at 106.80, Jun
26 low was breached reinforcing the current bearish tone. The break has also
exposed the key support zone at 106.07/105.99. Clearance of this area would
represent an important bearish development. On the upside, firm resistance has
been defined at 107.79, Jul 7 high. Initial resistance though is at 107.40, Jul
9 high.

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.