Free Trial

Bounces From 21 & 200-DMAs *RES....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bounces From 21 & 200-DMAs
*RES 4: Y113.63 Bollinger band top 
*RES 3: Y113.44 High Oct 6 
*RES 2: Y113.18 Hourly support Oct 6 now resistance 
*RES 1: Y112.89 Hourly resistance Oct 6
*PRICE: Y112.46 @ 0430GMT
*SUP 1: Y112.11 21-DMA 
*SUP 2: Y111.84 200-DMA 
*SUP 3: Y111.48 Low Sept 25 
*SUP 4: Y111.10 100-DMA
*COMMENTARY: Bearish pressure resulted in a break lower only to find support and
bounce from key DMAs. The break above Y112.48 sees bulls gain breathing room
with above Y112.89 to return pressure to Y113.44-70. Bears now focus on the
200-DMA with a close below needed to pressure Y111.48 and below this level to
shift focus to 55 (Y110.66) & 100 (111.10) DMAs. Below the 55-DMA hints at a
move back to 2017 lows with below Y109.52 to confirm.

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.