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Reclaims The 50-dma The pair has...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Reclaims The 50-dma
The pair has staged an impressive rally from Monday's lows despite the
overriding lack of risk appetite. Bulls will take confidence in USD/JPY easily
retaking the 110.97 50-dma, with August highs of 112.15 now the target. Today's
break above the downtrend from the August 1 high may reinforce the bullish
picture. Bears need to move back under the 55-dma to keep the bearish trend
intact and target the 200-dma at 109.94. Below here, the daily cloud
base/100-dma kicks in at 109.76/80.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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