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Free AccessKey Range Breakout *RES 4:.........>
DOLLAR-YEN TECHS: Key Range Breakout
*RES 4: 106.34 High Mar 6
*RES 3: 104.93 Intraday high
*RES 2: 104.46 Low Aug 26, 2019
*RES 1: 103.25 50.0% retracement of today's range
*PRICE: 102.11 @ 16:41 GMT Mar 9
*SUP 1: 101.19 Low Mar 9
*SUP 2: 100.32 1.500 projection of Apr 24 - Aug 26, 2019 move from Feb 20 high
*SUP 3: 99.54 Low August 2016
*SUP 4: 99.02 Low June 2016
USDJPY bears are in control as the pair spiralled to fresh cycle lows again
Monday. Sharp losses overnight in the Asia session resulted in a break of the
Aug 26 low of 104.46, opening the door to an extended leg lower which eventually
touched 101.19. This has confirmed a clear downside breach of the broad 104.46 -
112.26 range the pair has traded within since the beginning of last year. 100.00
is now within reach. Firm resistance is seen at 104.46.
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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.