Free Trial

Breaks Above 2018 Falling..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Breaks Above 2018 Falling Resistance Line Looks Tenuous
*RES 4: Y107.68 Feb 27 high
*RES 3: Y107.43 1% volatility band
*RES 2: Y107.20/28 Mar 1 high, 76.4% Fibo of Y107.91-Y105.25
*RES 1: Y106.90/05 Hourly resistance, Mar 9 high
*PRICE: Y106.53 @0911GMT
*SUP 1: Y106.23/27 Hourly support
*SUP 2: Y106.00/05 Hourly congestion Mar 7-Mar 8
*SUP 3: Y105.87/89 Initial rally high Mar 7, Mar 8 low
*SUP 4: Y105.46 Mar 6 low
*COMMENTARY* Friday saw the rally break above the 2018 falling resistance line,
at Y106.50 by time today. A high of Y107.05, ahead of the next resistance area
of note between Y107.20-Y107.28. Will need to surmount the latter before
confidence in a greater Y107.47-Y107.91 recovery will grow. In the interim,
Y106.27-Y106.23 provides initial support, Y106.05-Y105.87 of more importance
below and protection against Y105.46-Y105.25.

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.