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Free AccessBouncing Off 112.00 The 112.......>
DOLLAR-YEN TECHS: Bouncing Off 112.00
The 112 level and 50-dma have provided a platform for USDJPY to bounce. After
taking out 112.50 the 50% retracement of October's downtrend comes in at 113.09.
Above here targets the double-top resistance area at 113.45/50. Bears need to
break back below 112 to target the 100-dma at 111.42, raising the prospect of a
reversal pattern.
To read the full story
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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.