Free Trial

Staying Above 112 USDJPY came......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Staying Above 112
USDJPY came under pressure Thursday briefly breaking below the 112 level but
closing above it. Friday support has held around the 23.6% YTD Fibo level at
112.19 with resistance around Thursday's highs at 112.74. Bears need a close
back below 112 before challenging up trendline support at 111.78. The 100-dma is
placed behind at 111.44, a break of which raises the prospect of a reversal
pattern. Bulls need to recover Thursday's high at 112.73 to resume any recovery.

To read the full story

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.