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Free AccessRejects break of 105.50: *RES 4:...>
DOLLAR-YEN TECHS: Rejects break of 105.50:
*RES 4: 107.94/95 Low Jul 24/21-dma
*RES 3: 107.42 50% retracement of Aug fall
*RES 2: 107.21/26 Low Jul 18/100-hma
*RES 1: 107.09 Intraday high
*PRICE: 106.48 @ 08:43 GMT Aug 06
*SUP 1: 105.52/38 Intraday low/Lower Bollinger Band (3%)
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
*SUP 4: 104.56 Low Mar 26 2018
Early Asia trade saw USDJPY base ahead of 105.50, before extending the recovery
back above 106.00. Technical indicators remain bearish and the recent move below
key support in the form of the late June low, leaves bears ultimately focused on
round number support at 105.00 and the flash crash lows at 104.87. Bulls look
for a quick recovery above the 108 level to reignite upside momentum.
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Why MNI
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.