Free Trial

Bulls Need Close Above Y112.88.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls Need Close Above Y112.88
*RES 4: Y114.07 High Nov 9 
*RES 3: Y113.74 High Dec 12 
*RES 2: Y113.30 Hourly resistance Dec 13a 
*RES 1: Y112.88 High Dec 14
*PRICE: Y112.62 @ 0530GMT
*SUP 1: Y112.33 21-DMA 
*SUP 2: Y111.98 Low Dec 6 
*SUP 3: Y111.60 200-DMA 
*SUP 4: Y111.35 Low Nov 29
*COMMENTARY: Recent topside hesitation saw USDJPY head lower taking out key
supports but Y111.98 remains in play. Thursday's losses see bears focused on
Y110.83-111.98 where monthly lows, 100 & 200-DMAs are noted. Bears look for a
close below Y110.83 to target 2017 lows (Y107.31). The pair was rejected above
the 55-DMA with bulls now needing a close above Y112.88 to ease bearish pressure
and above Y114.07 to reconfirm initial focus on Y114.72 Nov highs.

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.