Free Trial

Early Risk-off Fades Risk-off......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Early Risk-off Fades
Risk-off through Asia was quickly faded with a recovery to the 108.35/40 area.
USDJPY remains locked in a tight 108-109 range with a break either side needed
for direction. Bears need to clear the 108.00/05 level which holds the 76.4%
retrace of the Jun6-11 recovery & Jun 6 low, before challenging the 2019 support
line at 107.98. Below here exposes the Jun 7 & Jun 5 lows at 108.88/82. Bulls
need to recover trendline resistance & Jun 11 high at 108.76/80, before opening
a run at the 109.00 level. Consolidation above opens the 21-dma, trendline off
Apr highs & 38.2% retracement at 109.11/18/23.

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.