Free Trial

Bears Need Close Below Y109.84.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Need Close Below Y109.84
*RES 4: Y111.49 High Jan 18 
*RES 3: Y111.39 High May 21 
*RES 2: Y111.18 High May 22 
*RES 1: Y110.84 High June 13
*PRICE: Y110.24 @ 0230GMT
*SUP 1: Y110.10 Hourly support June 12 
*SUP 2: Y109.84 Hourly resistance June 11 now support 
*SUP 3: Y109.01 Hourly support June 1 
*SUP 4: Y108.88 55-DMA
*COMMENTARY: Despite closes above the 200-DMA (Y110.21), the lack of follow
through on the break of Y110.72 has left the pair looking a little heavy.
Initial support remains at Y110.10 with bears needing a close below Y109.84 to
ease bullish pressure and below the 55-DMA to pressure Y107.85-108.09 where the
100-DMA is found. Bulls now need a close above Y110.84 to confirm traction above
the 200-DMA and return immediate focus 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.