Free Trial

Shallow Recovery The heavy tone....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Shallow Recovery
The heavy tone spilled over into Europe with a move to multi-month lows of
107.85. Recovery efforts have so far held shallow and keeps the downtrend intact
with next support from the Jan 10 & Jan 4 lows at 107.77/52. Further support is
located from the 3% lower Bollinger band at 107.44, with a break here needed to
extend the downtrend toward the 107.00 level. Bulls have the tough task of
recovering yesterday's high at 108.45 and the 109 level to bring the 21-dma &
May 31 high back into view at 109.56/62.

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.