Free Trial

Close Below 200-dma Would Shift....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Close Below 200-dma Would Shift Focus to Downside
After briefly trading through the up trendline support from the Mar 25 lows on
Wed, USDJPY managed to close above but has broken to the downside on Thursday.
Despite briefly trading below the 200-dma at 111.50, at the time of writing the
cross had moved just above. A close below this level is needed to shift the
focus to the downside. The 50-dma/Apr 8 lows at 111.28 provide the first initial
support ahead of the Apr 10 low and 100-dma at 110.84/75. To reignite upside
momentum bulls initially need to recover 112 and take out yesterday's high.
Above here opens a run at the Dec 20 high & 50-mma at 112.60/70.

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.