Free Trial

Bears Now Need Close Below.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Now Need Close Below 21-DMA
*RES 4: Y111.22 High Jan 22 
*RES 3: Y110.48 55-WMA 
*RES 2: Y110.18 200-DMA 
*RES 1: Y109.54 Alternating daily support/resistance
*PRICE: Y109.11 @ 2130GMT
*SUP 1: Y108.81 Low May 8 
*SUP 2: Y108.64 100-DMA 
*SUP 3: Y108.54 Hourly support Apr 23 
*SUP 4: Y108.46 21-DMA
*COMMENTARY: Hesitation ahead of the 200-DMA combined with daily studies
correcting from O/B is a concern for bulls and currently weighs. Bears now look
for a close below the 21-DMA to confirm an easing of bullish pressure and shift
initial focus back to Y107.85 whereas below Y106.57 is needed to see bears
targeting 2018 lows. Bulls still need a close above Y109.54 to gain breathing
room and above the 55-WMA to initially target Y111.22-98.

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.