Free Trial

Multi-month Lows USDJPY breached...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Multi-month Lows
USDJPY breached trendline support & the 109.00 level with ease as risk-off flow
dominated through Asia/Europe. The downtrend extended through 108.80 with next
support seen on approach to 108.50. Below here opens the 3% lower Bollinger band
& 61.8% retracement of 104.56-114.55 at 108.41/38. Bulls need to recover
109.15/20 (hourly lows May 29) to stabilise the outlook. Above here opens the
21-dma & May 30 high at 109.87/93, ahead of a run at the 110 level.

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.