Free Trial

Bears Need Close Below Y108.12.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Need Close Below Y108.12
*RES 4: Y110.55 Hourly resistance Jan 23 
*RES 3: Y110.18 Low Jan 18 now resistance 
*RES 2: Y109.76 High Jan 26 
*RES 1: Y109.20 Highs Jan 29 & 30
*PRICE: Y108.73 @ 2000GMT
*SUP 1: Y108.40 Low Jan 30 
*SUP 2: Y108.27 Low Jan 26 
*SUP 3: Y108.12 Low Sept 11 
*SUP 4: Y107.58 Weekly Triangle base
*COMMENTARY: Immediate bearish focus remains on Y107.31-58 where 2017 lows and
the weekly triangle base are located. O/S daily studies and Bollinger base
(Y108.22) remain concerns and currently limit follow through. Support is
starting to emerge on dips, but bulls still need a close above Y110.18 to ease
bearish pressure and target a correction back to Y110.97-111.98 where key DMAs
are noted. Bears need a close below Y108.12 to add weight to their case.

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.