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Free AccessLower 2% Volatility Band Under.....>
DOLLAR-YEN TECHS: Lower 2% Volatility Band Under Pressure
*RES 4: Y107.90/05 Feb 14 high, Feb 9 low
*RES 3: Y107.55 Feb 14 high
*RES 2: Y107.23 Hourly high Feb 14
*RES 1: Y106.84 Initial low Feb 14. now resistance
*PRICE: Y106.36 @1620GMT
*SUP 1: Y106.18/29 Intraday low, 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* Has squeezed lower again today, the 2% volatility band at Y106.29
is under pressure, a low of Y106.18 at the time of writing. As always cautious
when this is exceeded, as is never a long lasting situation. At the moment,
there is not much showing below Y106.18, until the Y105.55-Y105.44 area. In the
meantime, resistance comes from Y106.84 but likely requires a move back above
Y107.23 before any belief in a near term correction will arise.
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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.