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Free AccessClose Below Y110.34 Targets 2017...>
DOLLAR-YEN TECHS: Close Below Y110.34 Targets 2017 Low
*RES 4: Y112.14 200-DMA
*RES 3: Y111.70 Hourly support July 26 now resistance
*RES 2: Y111.39 Hourly resistance July 27
*RES 1: Y110.85 Hourly resistance July 28
*PRICE: Y110.64 @ 2030GMT
*SUP 1: Y110.52 Bollinger band base
*SUP 2: Y110.34 High June 14 now support
*SUP 3: Y110.52 Bollinger band base
*SUP 4: Y109.60 55-WMA
*COMMENTARY: Focus returned to Y110.34-62 following the rejection above the
200-DMA (Y112.14) Wednesday with bears needing a close below Y110.34 to shift
initial focus to the 55-WMA and overall focus to 2017 lows. O/S daily studies
remain the key concern for bears. Bulls need a close above Y111.39 to gain
breathing room and above Y111.70 to shift immediate focus to Y112.14-112.87. A
close above Y112.87 remains needed to end bearish hopes and target Y114.50.
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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.