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Free AccessBears Need Close Below Y108.54.....>
DOLLAR-YEN TECHS: Bears Need Close Below Y108.54
*RES 4: Y109.90 Daily Bull channel top
*RES 3: Y109.79 High Feb 8
*RES 2: Y109.45 100-WMA
*RES 1: Y109.19 High Apr 24
*PRICE: Y108.86 @ 0230GMT
*SUP 1: Y108.54 Hourly support Apr 23
*SUP 2: Y108.27 Hourly resistance Apr 23 now support
*SUP 3: Y107.85 High Apr 20 now support
*SUP 4: Y107.48 Hourly support Apr 20
*COMMENTARY: Bulls flexed their muscles Monday confirming immediate focus on
WMAs & DMAs Y109.45-110.47. A close above Y110.47 is needed to confirm breaks
and target 2018 highs. Initial support is noted at Y108.54 with bears needing a
close below to gain breathing room. A close below Y107.85 is then needed to see
initial focus return to Y106.57-107.20 where the 21 (Y107.20) & 55 (Y106.82)
DMAs are situated. The Bollinger top (Y108.73) is the key concern for bulls.
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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.