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Real-time insight on key fixed income and fx markets.
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Free AccessRecovers After Test To 50% Fibo....>
DOLLAR-YEN TECHS: Recovers After Test To 50% Fibo Retrace Level
*RES 4: Y110.93/08 1.618 swing Y11.27-Y109.20, May 18 high
*RES 3: Y110.56/62 1% vol band, 76.4% Fibo of Y111.40-Y108.11
*RES 2: Y110.27 Jun 6 high
*RES 1: Y110.05 Hourly resistance
*PRICE: Y109.98 @0902GMT
*SUP 1: Y109.40/50 Hourly support
*SUP 2: Y109.20 Jun 8 low, 50% of Y108.11-Y110.27
*SUP 3: Y108.94/08 61.8% of Y108.11-Y110.27, May 30 high
*SUP 4: Y108.62 76.4% Fibo of Y108.11-Y110.27
*COMMENTARY* Following last Wednesday's rise to Y110.27, the subsequent pullback
aided by some overbought hourly conditions, came to rest at Y109.20, a 50% Fibo
retrace of the preceding rally from Y108.11. The following recovery is currently
hampered by hourly resistance around Y110.05, needing clearance here, before the
chance of a better Y110.62-Y111.08 rise. Support from above Y109.50-Y109.40
protects the downside from another inquisition.
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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.