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Free AccessEyeing 108.48 Resistance: *RES.....>
DOLLAR-YEN TECHS: Eyeing 108.48 Resistance:
*RES 4: 109.32 High Aug 1 and a key resistance
*RES 3: 108.47/48 High Oct 1/Sep 18 High and bull trigger
*RES 2: 107.89 High Oct 2
*RES 1: 107.77 Intraday high
*PRICE: 107.43 @ 05:28 GMT Oct 10
*SUP 1: 106.81 Low Oct 8
*SUP 2: 106.48/47 Low Oct 10 / 50% retracement of Aug 26-Sep 18 rally
*SUP 3: 106.32/33 3.0% Low Sep 5 / Lower Bollinger Band
*SUP 4: 106.00 61.8% retracement of Aug 26-Sep18 rally
USDJPY is pushing higher with support at 106.48, Oct 4 low intact. Activity
between Oct 3-7 confirmed a bullish candle pattern known as a morning star
reversal. The pattern signalled the likely end to the correction between Oct 1 -
Oct 3 and if correct, highlights potential for a climb towards the key
resistance at 108.47 near-term. On the downside, a move below 106.48 would
negate the above prospect and reinstate a bearish focus.
To read the full story
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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.