Free Trial

Edges to week's highs: *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Edges to week's highs:
*RES 4: 109.32 High Aug 1 and key resistance
*RES 3: 108.48 Sep 18 High and bull trigger
*RES 2: 108.09 High Sep 20
*RES 1: 108.80 High Sep 23 and 24
*PRICE: 107.71 @ 15:39 GMT Sep 25
*SUP 1: 106.98 High Aug 13 and former breakout level
*SUP 2: 106.48 1.0% Lower Bollinger band
*SUP 3: 106.47 50% retracement of Aug 26 - Sep 18 rally
*SUP 4: 106.00 61.8% retracement of Aug 26 - Sep 18 rally
The pair managed to eke out a 107.84 print Wednesday defying those looking for a
return to 106.98 support. This returns the near-term outlook to neutral for now.
108.48 is the trigger for a resumption of gains that would open 109.00 and
109.32. Note a recent bearish engulfing candle and the breach of support at
107.46 is a concern for bulls. A move below the key 106.98 support, Aug 13 high
would expose the pair to a deeper pullback.

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.