Free Trial

Looking A Little Heavy *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Looking A Little Heavy
*RES 4: Y114.07 High Nov 9 
*RES 3: Y113.74 High Dec 12 
*RES 2: Y113.30 Hourly resistance Dec 13a 
*RES 1: Y112.85 Hourly resistance Dec 13, 55-DMA
*PRICE: Y112.61 @ 2000GMT
*SUP 1: Y112.33 Hourly resistance Dec 7a now support 
*SUP 2: Y111.98 Low Dec 6 
*SUP 3: Y111.63 200-DMA 
*SUP 4: Y111.35 Low Nov 29
*COMMENTARY: Recent hesitation has seen the pair head lower taking out key
supports and looking a little heavy. Bears need a close below Y112.33 to confirm
focus on Y110.83-111.68 where monthly lows, 100 & 200-DMAs are noted. Initial
resistance is noted at Y112.85 but bulls need a close above Y113.30 to ease
bearish pressure whereas a close above Y114.07 is needed to reconfirm a bullish
bias that initially targets Y114.72 where the LT TL off 2015 highs is found.

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.