Free Trial

Holding Onto Gains *RES 4:.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Holding Onto Gains
*RES 4: 109.52 61.8% of the Mar 24 - May 6 decline
*RES 3: 109.38 High Apr 6
*RES 2: 109.06 3.0% Upper Bollinger Band
*RES 1: 108.98 High Jun 03
*PRICE: 108.90 @ 16:55 BST Jun 3
*SUP 1: 108.09 High May 19 and former breakout level
*SUP 2: 107.51 Low Jun 2
*SUP 3: 107.09 Low May 29 and key near-term support
*SUP 4: 106.74 Low May 13
USDJPY broke higher Tuesday clearing the key resistance at 108.08/09, May
16/17/19 highs and bringing to an end the recent period of consolidation. The
break higher extended Wednesday, clearing the 108.85 Fibonacci retracement to
cement the bullish break. Initial support is at 108.09 ahead of Wednesday's low
of 107.51. A break below 107.09, May 29 low is required to reverse the
direction.

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.