Free Trial

Clears Resistance

DOLLAR-YEN TECHS
  • RES 4: 107.05 Aug 13 high and a key resistance
  • RES 3: 106.76 Bear channel resistance drawn off the Mar 24 high
  • RES 2: 106.55 High Sep 3
  • RES 1: 106.38 High Sep 8
  • PRICE: 106.07 @ 10:47 BST Oct 7
  • SUP 1: 105.61 Intraday low
  • SUP 2: 104.94 Low Oct 2 and key near-term support
  • SUP 3: 104.41 Low Sep 22
  • SUP 4: 104.00 Low Sep 21 and the bear trigger

USDJPY has rallied this morning breaching resistance at 105.80, Sep 30 high and 105.85, the 50-day EMA. The break higher marks an extension of the strong bounce off 104.94, Oct 2 low and also confirms a resumption of the recovery that has dominated since Sep 21. Today's break paves the way for a climb towards 106.38, Sep 8 high and 106.55, Sep 3 high. Bear channel resistance intersects at 106.76. Initial support is at today's 105.61 low.

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.