Free Trial

Hesitating Around 21-DMA,..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Hesitating Around 21-DMA, Y110.12 Support Key
*RES 4: Y112.51 200-DMA 
*RES 3: Y111.71 High July 27 
*RES 2: Y111.31 55-DMA 
*RES 1: Y110.85 High Aug 15
*PRICE: Y110.54 @ 0210GMT
*SUP 1: Y110.28 Hourly support Aug 15 
*SUP 2: Y110.12 Hourly support Aug 15a 
*SUP 3: Y109.80 High Aug 14 now support 
*SUP 4: Y109.27 Hourly resistance Aug 14 now support
*COMMENTARY: O/S studies appear to be impacting with the recovery from a lack of
follow through Friday seeing the pair flirt with the 21-DMA (Y110.65). The
55-DMA remains key resistance with bulls needing a close above to hint at a
shift higher in focus and above the 200-DMA to target Y114.50-115.50. Bears look
for a close below Y110.12 to ease bullish pressure and below Y109.40 to target
Y108.10-69 where 2017 lows are situated.

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.