Free Trial

Bearish Trend Intact As 55-dma.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Trend Intact As 55-dma Under Pressure 
After yesterday's rally failed to overcome downtrend resistance from the August
1 high, focus returns to the downside for USDJPY. The 55-dma, currently at
110.76, remains the key support area on a closing basis. A break through here is
required to shift the focus firmly lower to the 200-dma at 109.99 and the
Ichimoku cloud top at 109.76. Bulls need to regain 111.87 to stabilise the
near-term outlook before targeting 112.15.

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.