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USD/MXN Touches Fresh Multi-Month Lows

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DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still Trading Below Monday's High
*RES 4: 109.38 High Apr 6
*RES 3: 108.59 High Apr 10
*RES 2: 108.08 High Apr 16 and 17 and key resistance
*RES 1: 107.77 High May 11 and close to the the 50-day EMA
*PRICE: 107.03 @ 10:33 BST May 15
*SUP 1: 106.40 Low May 11
*SUP 2: 105.99 Low May 6 and 7 low and bear trigger
*SUP 3: 105.81 Low Mar 17
*SUP 4: 105.21 61.8% retracement of the Mar 9 - 24 rally
USDJPY is softer. The pair rallied Monday and managed to breach resistance at
107.50, Mar 30 high. However, the move stalled at 107.77. A close north of
108.08 is still required to highlight a reversal. The recent breach of 106.36,
Apr 30 low reinforced bearish conditions supported by MA studies that continue
to point south. A return lower would refocus attention on objectives at 105.81,
Mar 17 low and 105.21, a retracement level.

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