Free Trial

Bullish outlook maintained: *RES...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bullish outlook maintained:
*RES 4: 109.59/75 50.0% of the Apr 24-Jun 25 decline / 100-dma
*RES 3: 108.99/109.02 High Jul 10 / Low May 13
*RES 2: 108.93 38.2% of the Apr 24-Jun 25 decline
*RES 1: 108.79/83 Cloud base / High Jul 26
*PRICE: 108.65 @ 08:35 GMT July 29
*SUP 1: 108.11/94 200-hma / Low Jul 24
*SUP 2: 107.21 Low Jul 18
*SUP 3: 107.10 Low Jun 26
*SUP 4: 106.78 Low Jun 25 and key support
USDJPY maintains a bullish tone. Having breached 108.38 last Thursday, the pair
built on recent gains to touch 108.83 Friday. This puts the 108.79 cloud base
under pressure and a close above here would indicate further strength. Momentum
studies remain constructive, reinforcing the underlying bullish theme. On the
downside, losses below 107.21 would offset the bullish outlook and instead
expose support at 106.78. Initial support though lies at 107.94.

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.