Free Trial

Recovery Intact USDJPY based at....>

DOLLAR-YEN TECHS: Recovery Intact
USDJPY based at 109.81 yesterday establishing a higher low to keep the recovery
alive. Bulls now look to yesterday's high at 110.31 to extend the rally towards
the 100/21-dma at 110.51/65. A break would suggest a further recovery towards
111 ahead of the 200-dma at 111.43. Bears need to take out yesterday's low to
return the focus to the May 13 low & 109.00. Further support is located at
108.84/73 from the 50% retracement level & Feb 1 low. 

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.