Free Trial

Still Consolidating *RES 4:........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still Consolidating
*RES 4: 109.38 High Apr 6 and near-term bull trigger
*RES 3: 109.06 High Apr 9
*RES 2: 108.59 High Apr 10
*RES 1: 108.08 High Apr 16 and 17
*PRICE: 107.58 @ 10:36 BST Apr 23
*SUP 1: 106.92/93 Low Apr 1 and bear trigger / Low Apr 15
*SUP 2: 106.76 Low Mar 18
*SUP 3: 106.45 50.0% retracement of the Mar 9 - 24 rally
*SUP 4: 105.81 Low Mar 17
USDJPY is unchanged and continues to consolidate. The pair managed to find
support ahead of 106.92, Apr 1 low last week. Attention remains on this support
though following the failure at 109.38 on Apr 6. In order to reinstate a bullish
theme, clearance of 109.38 is required. This resistance marks the key bull
trigger and a break would open 110.00 and beyond. On the downside, losses
through 106.92 would be bearish exposing 106.45, a Fibonacci retracement.

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.