Free Trial

Key trendline break: *RES 3:.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Key trendline break:
*RES 3: 109.02 May 13 low
*RES 2: 108.80 High Jun 11
*RES 1: 108.53 Intraday high
*PRICE: 108.28 @ 16:42 BST July 1
*SUP 1: 108.07 Intraday low
*SUP 2: 107.63/56 200-hma/Low Jun 28
*SUP 3: 107.10 Low Jun 26
Risk appetite underpinned throughout the Monday session which resulted in USDJPY
breaking key trendline resistance drawn off the Apr 24 high at 108.15. A close
above would be significant as it follows recent reversal Japanese candle
patterns. A hammer formation on Jun 25 and bullish engulfing on Jun 26, which
marked an early warning sign sentiment was shifting. The break confirms a trend
reversal and paves the way for a climb to 108.80 and 109.02 next. Today's
intraday low provides initial support at 108.07.

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.