Free Trial

Correction Holding Above Key.......>

DOLLAR-YEN TECHS: Correction Holding Above Key Y109.87-Y109.79 Support
*RES 4: Y111.52/60 1% vol band, 76.4% of Y113.75-Y104.63
*RES 3: Y111.40 May 21 high
*RES 2: Y111.14 Jul 3 high
*RES 1: Y110.85/95 Hourly resistance
*PRICE: Y110.56 @0723GMT
*SUP 1: Y110.25/28 50% Fibo of Y109.37-Y111.14, Jul 4 low
*SUP 2: Y110.05 Jun 25 high, 61.8% Fibo of Y109.37-Y111.14
*SUP 3: Y109.79/87 76.4% Fibo, 6 week rising support line
*SUP 4: Y109.37 Jun 25, Jun 26 lows
*COMMENTARY* Has continued to improve since the setback to Y109.37 at the end of
last month. This week has seen a rally through the previous Y110.91 high,
reaching Y111.14 so far but unable as yet to test the next set of resistance
between Y111.40-Y111.86. Subsequently correcting gains from that Y109.37 level,
with support from Y110.25-Y110.05 protecting the near term key area between
Y109.87-Y109.79, where the recent uptrend and 76.4% Fibo retrace lie.

To read the full story



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.