Free Trial

Recovery Falters Beneath...........>

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.

To read the full story


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.