Free Trial

Bears Need Close Below 21-DMA......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Need Close Below 21-DMA
*RES 4: Y108.03 Low Feb 9 now resistance 
*RES 3: Y107.56 55-DMA 
*RES 2: Y107.29 High Mar 13 
*RES 1: Y107.12 Bollinger band top
*PRICE: Y106.31 @ 0430GMT
*SUP 1: Y106.10 21-DMA 
*SUP 2: Y105.29 Hourly resistance Mar 23 now support 
*SUP 3: Y104.55 2018 Low Mar 26 
*SUP 4: Y104.28 LT Rising TL off 2016 low
*COMMENTARY: The recovery from the LT rising TL off 2016 lows received a boost
with an aggressive rally that saw immediate focus shift to the Y107.29-108.03
resistance region. Bulls need a close above Y108.03 to end bearish hopes and
shift focus to Y109.50-110.74 where key WMA and DMAs are situated. Bears
continue to look for a close below the 21-DMA to ease renewed bullish pressure
and below Y105.29 to pressure 2018 lows once more.

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.