Free Trial

Erring bullishly: *RES 3: 107.49...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Erring bullishly:
*RES 3: 107.49 38.2% 112.40-104.46
*RES 2: 107.23 Intraday high/1.0% 10-dma envelope
*RES 1: 107.20 50-dma
*PRICE: 106.98 @ 15:38 GMT Sep 5
*SUP 1: 105.59 Low Aug 27
*SUP 2: 104.46 Low Aug 26 and YTD low
*SUP 3: 104.00 Psychological round number
After several sessions of consolidation, USDJPY finally made an attempt to break
higher Thursday, edging north of 107.00 psychological resistance. This brings
layered of Fib and DMA resistance between 107.20-49 as the key targets to cement
any upward momentum and any challenge of 108.00. Bears need to press prices
through the 105.59 support to open further losses towards the 104.46 bear
trigger where a break would open the psychological support at 104.00, the
medium-term target.

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.