Free Trial

Moves Into Next Y106.92-Y106.51....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Moves Into Next Y106.92-Y106.51 Target Zone
*RES 4: Y108.46 Feb 6 low, now resistance
*RES 3: Y108.05 Feb 9 low, now resistance
*RES 2: Y107.90 Intraday high
*RES 1: Y107.65 Hourly resistance
*PRICE: Y107.47 @1000GMT
*SUP 1: Y107.00/10 Hourly support
*SUP 2: Y106.84/92 Intraday low, 1.618 swing Y108.28-Y110.48
*SUP 3: Y106.68 2% volatility band
*SUP 4: Y106.51 61.8% Fibo of Y99.00-Y118.67
*COMMENTARY* Has broken below last year's Y107.32 base, the swing target at
Y106.92 slightly exceeded on near term exuberance, before recovering, aided by
some oversold conditions. This rise from Y106.84 will likely meet initial
resistance from between Y107.65-Y108.05 but will need to move back through
Y108.46-Y108.82 to reduce the current bear bias. Below Y106.84 and the 2%
volatility band protects the long term 61.8% Fibo level at Y106.51.

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.