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Needs to Secure Close Above 106

DOLLAR-YEN TECHS
  • RES 4: 107.94 2.0% Upper Bollinger Band
  • RES 3: 106.90 High Jul 24
  • RES 2: 106.50/49 50-EMA / 1.0% 10-dma Envelope
  • RES 1: 106.47 High Aug 3
  • PRICE: 105.88 @ 17:17 BST Aug 7
  • SUP 1: 105.32 Low Aug 5
  • SUP 2: 103.09 Low Mar 12
  • SUP 3: 102.02 Low Mar 10
  • SUP 4: 101.19 Low Mar 9 and major support

The second half of the week proved far less volatile than the first, with bulls needing to secure a close above the Y106 handle before any more meaningful move higher. In the first half of the week, prices spiked to 106.47, which remains the first upside target. To the downside, 103.67 marks key support, the 76.4% retracement.

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