Free Trial

Pulls Away From Key Resistance.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Pulls Away From Key Resistance
*RES 4: 109.38 High Apr 6
*RES 3: 108.85 50% retracement of the Mar 24 - May 6 decline
*RES 2: 108.59 High Apr 10
*RES 1: 108.08/09 High Apr 16 and 17 / High May 19
*PRICE: 107.22 @ 10:46 BST May 29
*SUP 1: 107.09 Intraday low
*SUP 2: 106.74 Low May 13 and key intraday support
*SUP 3: 106.40 Low May 11
*SUP 4: 105.99 Low May 6 and 7 low and bear trigger
USDJPY started today's session on a softer note and overnight in Asia traded
below support at 107.30, May 19 low. The pullback follows a period of
consolidation and an inability to clear the key resistance at 108.08, Apr 16 and
17 high. A clear break of 108.08 is still required to signal a bullish reversal.
Key near-term support to watch next is at 106.74, May 13 low. A break would
resume a bearish focus and open 105.99, May 6 and 7 low.

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.