Free Trial

Bull Trigger Squeezed: *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bull Trigger Squeezed:
*RES 4: 109.37 61.8% April - August Decline
*RES 3: 109.32 High Aug 1 and a key resistance
*RES 2: 109.07 200-DMA
*RES 1: 108.63 High Oct 11
*PRICE: 108.52 @ 15:55 GMT Oct 11
*SUP 1: 106.81 Low Oct 8
*SUP 2: 106.48/47 Low Oct 10 / 50% retracement of Aug 26-Sep 18 rally
*SUP 3: 106.32/33 3.0% Low Sep 5 / Lower Bollinger Band
*SUP 4: 106.00 61.8% retracement of Aug 26-Sep18 rally
The pair pulled the bull trigger Friday, rallying north of 108.48 and setting
the stage for a test on the 200-DMA at 109.07. The cements the bullish signals
emerging from the Oct 3-7 bullish candle pattern (morning star reversal), which
continues to influence the current move higher. The break of the bull trigger
confirms a resumption of the bull trend that started on Aug 26. This opens
109.32. Support for now lies at 106.81.

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.