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Free AccessHesitating Ahead of LT Rising TL...>
DOLLAR-YEN TECHS: Hesitating Ahead of LT Rising TL
*RES 4: Y107.29 High Mar 13
*RES 3: Y106.75 High Mar 14
*RES 2: Y106.09 Hourly resistance Mar 21
*RES 1: Y105.22 Previous 2018 Low Mar 2 now resistance
*PRICE: Y104.96 @ 0230GMT
*SUP 1: Y104.55 2018 Low Mar 26
*SUP 2: Y104.26 LT Rising TL off 2016 low
*SUP 3: Y101.15 Monthly Low Nov 9 2016
*SUP 4: Y100.07 Monthly Lows Sept 22 & 27 2016
*COMMENTARY: Hesitation ahead of Y106.75-107.29 took its toll resulting in fresh
2018 & 18mth lows and hinting at a move targeting 99.08-101.15 where 2016 lows
are noted. Bears now need a close below the LT rising TL off 2016 lows to
confirm. Bulls now look for a close above Y105.22 to gain breathing room. A
close above Y106.09 is needed to return initial focus to Y106.75-107.29. The
Bollinger base (Y104.96) is the key concern.
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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.