Free Trial

China Retaliation Sparks...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: China Retaliation Sparks Risk-off
China's announcement to raise tariffs on some U.S. goods triggered fresh
risk-off. USDJPY dropped sharply through 109.10 to trade at levels not seen
since Feb 1. Support is seen on approach to the 109.00 level, with a break here
needed to open the 50% retracement & Feb 1 low at 108.84/73. Further support is
located at 108.50 from the Jan 31 low, ahead of the 61.8% retracement & Jan 16
low at 108.38/37. Bulls need to recover the 110 handle to put the focus back on
the 100-dma at 110.54.

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.