Free Trial

Is Offered

DOLLAR-YEN TECHS
  • RES 4: 106.41 Channel resistance drawn off Mar 24 high
  • RES 3: 106.11/38 High Oct 7 and the bull trigger / High Sep 8
  • RES 2: 105.73/75 50-dma / High Oct 20
  • RES 1: 105.04 Low Oct 4 and a recent breakout level
  • PRICE: 104.94 @ 10:48 BST Oct 21
  • SUP 1: 104.81 61.8% retracement of the Sep 21 - Oct 7 rally
  • SUP 2: 104.50 76.4% retracement of the Sep 21 - Oct 7 rally
  • SUP 3: 104.00 Low Sep 21 and the bear trigger
  • SUP 4: 10309 Low Mar 12

USDJPY is offered. The pair has continued to display a softer tone and today's sell-off reinforces this outlook. Price is testing the key short-term support at 104.94, Oct 2 low where a clear break would signal scope for a deeper sell-off and open 104.50, a retracement level and potentially the key 104.00 handle further out, Sep 21 low. On the upside, firm short-term resistance has been defined at 105.75.

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.