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Free AccessNear Term Focus Remains On Hold....>
DOLLAR-YEN TECHS: Near Term Focus Remains On Hold Of Y106.85-Y106.62 Support
*RES 4: Y108.04/11 Equality rise from Y105.66, 38.2% Fibo
*RES 3: Y107.91 Feb 21 high
*RES 2: Y107.78/84 Apr 13 high,1.618 swing of Y107.01-Y105.66
*RES 1: Y107.50/55 Hourly resistance
*PRICE: Y107.38 @0907GMT
*SUP 1: Y106.85 Hourly congestion lows Apr 6-Apr 11
*SUP 2: Y106.62/65 Apr 9, Apr 10, Apr 11 lows
*SUP 3: Y106.12 Mar 30 low
*SUP 4: Y105.90 Mar 27 high, now support
*COMMENTARY* Pullbacks have so far held above the congested lows from Y106.85.
Do however require a move back above Y107.55, or the immediate risk will return
lower and below Y106.85 will bring the key near term Y106.65-Y106.62 area into
view. Have to hold here or recent upside momentum evaporates. Directly above
Y107.55 once again brings the congested Y107.78-Y108.11 region into play. Above
needed to arouse greater upside potential.
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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.