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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.
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Free AccessBearish Risk Still Present *RES....>
DOLLAR-YEN TECHS: Bearish Risk Still Present
*RES 4: 108.32 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: 107.43 High Jul 14
*PRICE: 107.19 @ 06:04 BST Jul 17
*SUP 1: 106.67/65 Low Jul 15 / Jul 10 and intraday bear trigger
*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 weakness is still seen likely near-term. 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, the Jun 23 and May 6/7 low.
Clearance of this area would represent an important bearish break. On the
upside, firm short-term resistance is at 107.79, Jul 7 high. Initial resistance
though is 107.43, Jul 14 high.
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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.