Free Trial

Lower 2% Volatility Band Again.....>

DOLLAR-YEN TECHS: Lower 2% Volatility Band Again Under Pressure Today
*RES 4: Y107.65/70 Congestion area Feb 13-14
*RES 3: Y107.17 Hourly highs Feb 14
*RES 2: Y106.86 Feb 15 high
*RES 1: Y106.35/55 Hourly resistance
*PRICE: Y106.02 @0957GMT
*SUP 1: Y105.87 2% volatility band
*SUP 2: Y105.44/55 Jan 2014 high, Oct 3 2016 high
*SUP 3: Y104.35 14 month bear channel base projection
*SUP 4: Y103.64 76.4% Fibo of Y99.00-Y118.67
*COMMENTARY* The recovery stalled at Y106.86 yesterday, a fresh fall through
Y106.18 today, which has again straddled the lower 2% volatility band at
Y105.87, testing into the top of the next band of support from between
Y105.55-Y105.44. Always concerned when we trade below the 2% band as this is
never a long lasting situation. Meanwhile, Y106.35-Y106.55 provides initial
resistance but back above Y106.86 needed for anything meaningful.

To read the full story



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.