Free Trial

Bears Focused On 2017 Low *RES.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Focused On 2017 Low
*RES 4: Y110.61 Hourly support Aug 16 now resistance 
*RES 3: Y110.37 High Aug 17 
*RES 2: Y110.03 Hourly resistance Aug 17 
*RES 1: Y109.60 High Aug 18
*PRICE: Y109.20 @ 2030GMT
*SUP 1: Y108.93 Hourly resistance Aug 18 now support 
*SUP 2: Y108.61 Low Aug 18 
*SUP 3: Y108.10 2017 Low Apr 17 
*SUP 4: Y106.95 High Nov 10 now support
*COMMENTARY: The recovery from previous week's lows ended ahead of key DMAs
Wednesday. Bulls need a close above Y110.61 to return focus to Y111.05-28, above
the 55-DMA (Y111.28) to hint at a shift higher in focus and above the 200-DMA
(Y112.56) to target Y114.50-115.50. Bears are currently focused on 2017 lows
with the Bollinger base (Y108.95) again limiting follow through. Bears look for
a close below current 2017 lows to confirm initial focus on Y106.95.

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.