Free Trial

O/S Studies Key Concern, Bulls.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: O/S Studies Key Concern, Bulls Need Close Above Y110.18
*RES 4: Y110.67 21-DMA 
*RES 3: Y110.55 Hourly resistance Jan 23 
*RES 2: Y110.18 Low Jan 18 now resistance 
*RES 1: Y109.76 High Jan 26
*PRICE: Y109.26 @ 0530GMT
*SUP 1: Y108.87 Hourly support Jan 31 
*SUP 2: Y108.40 Low Jan 30 
*SUP 3: Y108.27 Low Jan 26 
*SUP 4: Y108.12 Low Sept 11
*COMMENTARY: Bulls take comfort in hesitation ahead of recent 2018 lows with
follow through lacking as support emerges on dips. Bears now need a close below
Y108.12 to reconfirm initial focus on Y107.31-58 where 2017 lows and the weekly
triangle base are located. Bulls still need a close above Y110.18 to ease
bearish pressure and above the 21-DMA to confirm focus on Y111.22-112.86 where
key DMAs and bear channel top are noted.

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.