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Free AccessRecovery Will Still Be Measured....>
DOLLAR-YEN TECHS: Recovery Will Still Be Measured Against Y106.69 Reaction
*RES 4: Y107.91 Feb 21 high
*RES 3: Y107.30 Mar 13 high
*RES 2: Y106.98/01 1% volatility band, Mar 28 high
*RES 1: Y106.69 76.4% of Y107.01-Y105.66, hourly high Mar 29
*PRICE: Y106.52 @1511GMT
*SUP 1: Y105.90/00 Hourly support
*SUP 2: Y105.66/72 Apr 2 low, 76.4% of Y105.32-Y107.01
*SUP 3: Y105.50/55 Hourly congestion Mar 27-28
*SUP 4: Y105.32 Mar 27 low
*COMMENTARY* Peaked at Y107.01 last week, just above the upper 1% volatility
band, at Y106.98 at the time. Has suffered some fallout since, Monday's dip to
Y105.66 moving slightly below the 76.4% Fibo retrace level at Y105.72, before
finding some support. In this respect, the move back above Y106.18-Y106.45 is
encouraging but any real attempt at a recovery will have to deal with the
tougher Y106.69 level. Nearest support now Y106.00-Y105.90.
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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.