Free Trial

Bulls Need Close Above 200-DMA.....>

DOLLAR-YEN TECHS: Bulls Need Close Above 200-DMA
*RES 4: Y112.32 100-DMA 
*RES 3: Y111.98 Low Dec 6 now resistance 
*RES 2: Y111.75 200-DMA 
*RES 1: Y111.48 High Jan 18
*PRICE: Y111.11 @ 2000GMT
*SUP 1: Y110.92 Hourly resistance Jan 22 now support 
*SUP 2: Y110.49 Low Jan 19 
*SUP 3: Y110.18 Low Jan 17 
*SUP 4: Y109.52 Low Sept 15
*COMMENTARY: The rejection ahead of the 200-DMA (Y111.75) last week left the
pair looking a little heavy and focus back on layers of support Y109.52-110.18.
Bears now look for a close below Y109.52 to add weight to the case for a test of
2017 lows. O/S daily studies remain a concern for bears. Bulls need a close
above the 200-DMA to gain breathing room and above the 55-DMA (Y112.45) to
confirm initial focus on Y112.86-113.44.

To read the full story


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.