Free Trial

Dipping Into Key Support Region....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Dipping Into Key Support Region
*RES 4: Y111.18 High May 22 
*RES 3: Y110.90 High June 15 
*RES 2: Y110.62 Hourly resistance June 8 
*RES 1: Y110.23 200-DMA
*PRICE: Y109.67 @ 0430GMT
*SUP 1: Y109.11 55-DMA 
*SUP 2: Y109.01 Hourly support June 1 
*SUP 3: Y108.70 Low June 1 
*SUP 4: Y108.14 100-DMA
*COMMENTARY: The failure to gain traction above the 200-DMA (Y110.23) sees the
pair dipping into the Y109.01-84 support region. Bears need a close below
Y109.84 to ease bullish pressure and below Y109.01 to pressure Y107.85-108.14
where the 100-DMA is found. Daily studies at O/B levels is less than ideal for
bulls. Bulls now need a close above Y110.90 to confirm traction above the
200-DMA and return immediate focus to Y111.39-98.

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.