Free Trial

Decline Sees Y111.91-Y111.65 As....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Decline Sees Y111.91-Y111.65 As Next Region Of Support
*RES 4: Y113.33 Nov 16 high
*RES 3: Y112.95/00 Hourly congestion Nov 15-16
*RES 2: Y112.74 Nov 16 low, now resistance
*RES 1: Y112.50 Hourly resistance
*PRICE: Y112.48 @1639GMT
*SUP 1: Y111.91/00 38.2% Fibo of Y107.32-Y114.74, 1% vol band
*SUP 2: Y111.65 Oct 16 low
*SUP 3: Y111.03 50% Fibo of Y107.32-Y114.74
*SUP 4: Y110.90 2% volatility band
*COMMENTARY* The Y112.38-Y112.25 support area has now given way, allowing a fall
to the top of the next area of interest from between Y111.91-Y111.65. The latter
an outstanding low from the middle of last month. Some near term oversold
conditions currently being repaired but it will take a move back above Y112.50,
before any real respite will follow and allow a higher Y112.74-Y113.00 recovery.
Below Y111.65 and the next targeted area becomes Y111.03-Y110.90.

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.