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February 22, 2018 16:51 GMT
Recovery Falters Beneath...........>
DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Recovery Falters Beneath Y108.05-Y108.28 Resistance
*RES 4: Y108.34/40 2018 falling resistance line, 1% vol band
*RES 3: Y108.28 Jan 26 low, now resistance
*RES 2: Y107.91/05 Feb 21 high, Feb 9 low
*RES 1: Y107.50/60 Hourly resistance
*PRICE: Y107.03 @1650GMT
*SUP 1: Y106.65 Intraday low
*SUP 2: Y106.35/45 Hourly lows/highs Feb 16-19
*SUP 3: Y105.92/10 Hourly base Feb 16 & Feb 19
*SUP 4: Y105.55 Feb 16 low
*COMMENTARY* The recovery continued on Wednesday, moving us even further away
from the lower 2% volatility band. The move through Y107.65 seeing the next leg
higher towards resistance from two recent Y108.05-Y108.28 lows. In the interim,
nearest support from Y107.00 has given way, loss concerns and allows a deeper
Y106.35-Y106.10 pullback. Above Y108.28 and the year's falling resistance line
is at Y108.34 and the upper 1% volatility band at Y108.40.
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