Free Trial

Rally Stalling Below Upper 1%......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Rally Stalling Below Upper 1% Volatility Band
*RES 4: Y108.04/11 Equality rise from Y105.66, 38.2% Fibo
*RES 3: Y107.84/91 1.618 swing Y107.01-Y105.66, Feb 21 high
*RES 2: Y107.50/70 Apr 5 high, 1% volatility band
*RES 1: Y107.20/30 Hourly resistance
*PRICE: Y106.98 @0850GMT
*SUP 1: Y106.57/62 Hourly support, Apr 9 low
*SUP 2: Y106.35 Hourly high/low Apr 3-4
*SUP 3: Y105.99 Apr 4 low
*SUP 4: Y105.66 Apr 2 low
*COMMENTARY* Last week saw a break of pivotal Y106.69 resistance and then the
Y107.22-Y107.30 area. A high of Y107.50 so far, just shy of a test to the upper
1% volatility band, at Y107.70 today. These ahead of the next Y107.84-Y107.91
target zone. As a result, nearest support moves up to Y106.62-Y106.57, although
it would currently take a loss of Y106.35 to impair recent upside momentum.
Directly through Y107.91 and Y108.04-Y108.11 is anticipated next.

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.