Free Trial

Still Weak *RES 4: 110.36 76.4%....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still Weak
*RES 4: 110.36 76.4% of the Mar 24 - May 6 decline
*RES 3: 109.85 High Jun 5
*RES 2: 108.54 High Jun 9
*RES 1: 107.87 High May 10
*PRICE: 107.06 @ 05:56 BST Jun 11
*SUP 1: 106.90 Intraday low
*SUP 2: 106.74 Low May 13
*SUP 3: 106.40 Low May 11
*SUP 4: 105.99 Low May 6/7 and key support
USDJPY traded lower again Wednesday to extend the current pullback. A bearish
theme was confirmed Monday and highlighted by the Japanese candle pattern, a
bearish engulfing reversal. The pair has cleared support at 107.09, May 29 low
reinforcing bearish conditions and, this signals scope for a move towards 106.74
next, May 13 low and the key support at 105.99, May 6 and 7 low. Initial
resistance is at 107.87, yesterday's high.

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.