Free Trial

Still Under Pressure *RES 4:.......>

DOLLAR-YEN TECHS: Still Under Pressure
*RES 4: 108.08 High Apr 16 and 17 and key resistance
*RES 3: 107.79 20-day EMA
*RES 2: 107.34 High Apr 28
*RES 1: 106.92 Low Apr 1 and recent breakout level
*PRICE: 106.54 @ 05:46 BST Apr 30
*SUP 1: 106.36 Low Apr 29
*SUP 2: 105.81 Low Mar 17
*SUP 3: 105.21 61.8% retracement of the Mar 9 - 24 rally
*SUP 4: 104.51 Low Mar 13
USDJPY remains under pressure. The pair has achieved the near-term objective of
106.45, 50.0% retracement of the Mar 9 - 24 rally. Tuesday's break of the former
key support at 106.92, Apr 1 low continues to weigh with the focus on the next
objectives at 105.81, Mar 17 low and 105.21, the 61.8% retracement. Initial
resistance is 106.92, Apr a low and the recent breakout level. Key resistance
though is at 108.08, Apr 16/17 high.

To read the full story



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.