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Free AccessContinued Fall Pressures...........>
DOLLAR-YEN TECHS: Continued Fall Pressures Y110.19-Y110.15 Again
*RES 4: Y111.70/88 Jan 12, Jan 11 highs
*RES 3: Y111.48 Jan 18 high
*RES 2: Y111.23 Jan 22 high
*RES 1: Y110.85/95 Hourly resistance
*PRICE: Y110.32 @1640GMT
*SUP 1: Y110.15/19 61.8% of Y107.32-Y114.74, Jan 17 low
*SUP 2: Y109.79 Equality fall from Y113.69 to Y114.74-Y110.84
*SUP 3: Y109.39 1.618 swing of Y110.19-Y111.48
*SUP 4: Y109.07 76.4% Fibo of Y107.32-Y114.74
*COMMENTARY* With the recovery failing to move any higher than Y111.48, we have
gradually moved back lower over the course of the last week, until
Y110.19-Y110.15 support has come back into view. This area still seen as the
protection to the downside and against a deeper fall which sees the lower 1%
volatility band join the equality fall target at Y109.79. Below and
Y109.39-Y109.07 next. Resistance Y110.85-95, with Y111.23 above.
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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.