Free Trial

Bears back in charge *RES 3:.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears back in charge
*RES 3: 108.20/24 21-/50-dma
*RES 2: 107.94 Low Jul 24
*RES 1: 107.21 Low Jul 18
*PRICE: 107.07 @ 03:35 GMT Aug 02
*SUP 1: 106.85 Intraday low
*SUP 2: 106.78 Low Jun 25
*SUP 3: 104.87 YTD low
Risk-off flows sent the rate through key support in the form of the Jul 18 low,
with a brief look below 107.00 following, deepening the retracement. Bears now
look to 106.78, with any break there opening the way for a move towards the YtD
low. Bulls look for a quick recovery of the aforementioned Jul 18 low, which
would allow them to regain some composure
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.