Free Trial

Fails To Gain Traction Failed to...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Fails To Gain Traction
Failed to build on gains above 111.40 has triggered a sharp bearish reversal.
USDJPY breached major up trendline support through 111.17, which now risks a
larger pullback into the 110.59 area. Below here the focus would be on the
200-dma at 110.00, ahead of the June lows at 109.37. Closing below 111.00 today
will confirm the bearish breakout. Bulls would need to regain 111.87 to
stabilise the near-term outlook and target 112.15.

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.