Free Trial

Bullish Following Breach Of........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bullish Following Breach Of Resistance
*RES 4: 111.45 1.236 projection of Aug 26 - Sep 18 rally from Oct 3 low
*RES 3: 110.53/67 76.4% of the Apr 24 - Aug 26 decline / High May 21
*RES 2: 110.36 High May 23
*RES 1: 110.21 Intraday high
*PRICE: 110.10 @ 16:30 GMT Jan 14
*SUP 1: 109.45 Intraday low
*SUP 2: 109.01 Low Jan 9
*SUP 3: 107.62 Low Jan 8
*SUP 4: 107.10 50% retracement of the Aug 26 - Dec 2 rally
USDJPY has started the week on a firm note delivering a break of the key former
resistance at 109.73, Dec 2 high The break represents a significant bullish
development and confirms a resumption of the underlying bull trend that has been
in place since Aug 26 last year. This has opened 110.53, a Fibonacci retracement
and 110.67, May 21 high next. Initial support is seen at now lies at 109.45,
Monday's intraday low.

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.