Free Trial

Loss Of Y109.21 Puts Y108.82 At....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Loss Of Y109.21 Puts Y108.82 At Risk
*RES 4: Y110.60/65 Congestion area Aug 4-Aug 8 
*RES 3: Y110.18 Aug 10 high
*RES 2: Y109.84 Aug 3 low, now resistance
*RES 1: Y109.56 Aug 9 low, hourly resistance
*PRICE: Y109.00 @0927MT
*SUP 1: Y108.82 Jun 14 low
*SUP 2: Y108.32 Equality fall from Y112.20 to Y114.50-Y110.62
*SUP 3: Y108.05/13 5 week bear channel proj'n, Apr 17 low
*SUP 4: Y107.92 2% volatility band
*COMMENTARY* Has worked its way through congested support from between
Y109.63-Y109.21 and is now poised for an assault on the Jun 14 low at Y108.82.
Can be helped in the near term by some oversold hourly conditions but will need
to find a way back through Y109.56-Y109.84, before any confidence in a recovery
will appear and a challenge to Thursday's Y110.18 high. Below Y108.82 and the
equality fall target at Y108.32 is all that protects the year's Y108.13 low.

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.