Free Trial

Below 200-DMA To Ease Bullish......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Below 200-DMA To Ease Bullish Pressure
*RES 4: Y113.72 Bollinger band top 
*RES 3: Y113.70 Low July 11 now resistance 
*RES 2: Y113.26 High Sept 27 
*RES 1: Y112.86 Hourly resistance Sept 28
*PRICE: Y112.43 @ 0830GMT
*SUP 1: Y112.25 Hourly support Sept 29 
*SUP 2: Y112.02 200-DMA 
*SUP 3: Y111.92 Hourly support Sept 26 
*SUP 4: Y111.48 Low Sept 25
*COMMENTARY: Topside follow through above Y112.85 has been a little lacking
which is a concern with daily studies at O/B levels, momentum divergence and the
Bollinger top capping. Bulls have shifted focus to tests of July highs with
above Y113.70 to add support to their case. Bears continue to look for a close
below the 200-DMA to ease bullish pressure and below Y111.48 to confirm a shift
in focus to key DMAs Y110.52-111.04.

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.