Free Trial

Bears Need Close Below Y107.85.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Need Close Below Y107.85
*RES 4: Y110.72 Hourly support May 22 now resistance 
*RES 3: Y110.19 200-DMA 
*RES 2: Y109.72 21-DMA 
*RES 1: Y109.13 Hourly resistance May 29
*PRICE: Y108.73 @ 2130GMT
*SUP 1: Y108.09 55-DMA 
*SUP 2: Y107.85 High Apr 20 now support 
*SUP 3: Y106.85 Low Apr 17 
*SUP 4: Y106.60 Low Apr 10
*COMMENTARY: Tuesday's sell-off saw the pair dip into the Y107.85-108.16 region
where 55 & 100-DMAs and the 21-WMA (Y109.11) are situated. Bears continue to
look for a close below Y107.85 to confirm breaks of 55 & 100-DMAs and shift
initial focus to Y106.60. Daily studies have room to move before O/S is an
issue. Bulls now need a close above Y109.13 to gain breathing room and above
Y110.72 to shift initial focus back to Y111.39-98.

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.