Free Trial

Supported Ahead Of 2017 Low For....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Supported Ahead Of 2017 Low For Now
*RES 4: Y109.24 Daily Bear channel top 
*RES 3: Y108.94 High Feb 12 
*RES 2: Y108.42 Low Feb 12 now resistance 
*RES 1: Y108.03 Low Feb 9 now resistance
*PRICE: Y107.67 @ 0220GMT
*SUP 1: Y107.31 2017 Low Sept 8 
*SUP 2: Y106.33 Daily Bear channel base 
*SUP 3: Y105.89 High Nov 9 now support 
*SUP 4: Y101.15 Monthly Low Nov 9 2016
*COMMENTARY: The sell-off now sees the pair hesitating ahead of the 2017 low as
layers of resistance accumulate and weigh. Bears need a close below 2017 lows to
confirm a break of the LT rising TL off 2012 lows coming in around Y107.87
today. Below 2017 lows than shifts overall focus to 2016 lows at Y98.08. Bulls
now look for a close above Y108.42 to ease bearish pressure and above Y109.79 to
confirm breaks of the 21-DMA (Y109.54) and bear channel top.

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.