Free Trial

Risk-aversion weighs: *RES 4:......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Risk-aversion weighs:
*RES 4: 107.72/87 50-dma / cloud base
*RES 3: 107.57 High Aug 2
*RES 2: 107.18/21 50% retracement of the Aug fall / Low Jul 18
*RES 1: 106.98 High Aug 13 and key resistance
*PRICE: 105.92 @ 04:29 GMT Aug 15
*SUP 1: 105.66 Low Aug 14
*SUP 2: 105.05 Low Aug 12 and key support
*SUP 3: 105.00 Psychological support
*SUP 4: 104.87 YTD low
Risk took a hit yesterday with USDJPY retracing back through 106.00. The bearish
trend continues to dominate, opening the potential for a return to support at
105.05 and the psychological 105.00 level. From a Japanese candle perspective
however, Monday's pattern is a bullish engulfing reversal, signalling a
potential base. However additional bullish confirmation is required with key
resistance at 106.98 and 107.09, the Aug 13 and Aug 6 high respectively.

To read the full story

Close

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.