Free Trial

Bulls Need Close Above Y114.49.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls Need Close Above Y114.49
*RES 4: Y115.62 High Jan 19 
*RES 3: Y115.34 Falling LT weekly TL 
*RES 2: Y114.49 Monthly High July 11 
*RES 1: Y114.27 Hourly resistance Oct 27
*PRICE: Y114.12 @ 0430GMT
*SUP 1: Y113.92 Hourly support Oct 26 
*SUP 2: Y113.55 Hourly support Oct 26a 
*SUP 3: Y113.25 Low Oct 24 
*SUP 4: Y113.06 Hourly support Oct 20a
*COMMENTARY: Pressure returned to the Y114-49 resistance with the pair finding
support ahead of the key Y112.30-113.06 support region this week. Bulls need a
close above Y114.49 to shift focus to Y115.34-62. The Bollinger top (Y114.15) is
the key concern for bulls. Bears now look for a close below Y113.92 to gain
breathing room and hint at a correction back to Y113.06-25. Overall below the
55-DMA (Y111.26) is needed to end bullish hopes and return focus to 2017 lows.

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.