Free Trial

Bullish Engulfing Reversal? *RES...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bullish Engulfing Reversal?
*RES 4: 107.74 High Mar 5
*RES 3: 106.85 Low Mar 4
*RES 2: 106.34 High Mar 6
*RES 1: 105.92 High Mar 10 and key intraday resistance
*PRICE: 104.32 @ 06:11 GMT Mar 11
*SUP 1: 102.02 Low Mar 10
*SUP 2: 101.19 Low Mar 9 and bear trigger
*SUP 3: 100.32 1.500 projection of Apr 24 - Aug 26, 2019 move from Feb 20 high
*SUP 4: 99.54 Low August 2016
USDJPY rallied yesterday following the rebound off the week's 101.19 low.
Nonetheless, recent losses below 104.46, Aug 26 low continue to weigh on the
pair. This confirmed a breach of a broad 104.46 - 112.26 range the pair has
traded within since January last year. It opens 100.00 with a range projection
at 98.00. One concern for bulls is yesterday's candle pattern, a bullish
engulfing reversal. Key resistance and S/T risk parameter for bears is 105.92.

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.