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Free AccessBulls Now Need Close Above.........>
DOLLAR-YEN TECHS: Bulls Now Need Close Above Y108.42
*RES 4: Y109.78 High Feb 8
*RES 3: Y108.42 Low Feb 12 now resistance
*RES 2: Y108.38 21-DMA
*RES 1: Y108.03 Low Feb 9 now resistance
*PRICE: Y107.65 @ 2030GMT
*SUP 1: Y107.30 Hourly support Feb 21
*SUP 2: Y107.01 Hourly support Feb 20
*SUP 3: Y106.42 Hourly support Feb 19
*SUP 4: Y106.10 Low Feb 19
*COMMENTARY: The Y105.50 support confirmed significance supporting on fresh 2018
lows. Bears need a close below Y105.50 to add weight to the case for a move to
Y99.08-101.15. Bulls now need a close above Y108.42 to hint at a correction back
to Y110.47 and above Y109.78 to confirm. Correcting O/S daily studies and
Bollinger base (Y106.16) remain concerns for bears who now need a close below
Y107.01 to retain initial focus on Y105.50.
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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.