Free Trial

Technical Picture Looking..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Technical Picture Looking Increasingly Cloudy
At the time of writing, USDJPY has managed to move below the 200-dma but found
support at Wednesday's lows of 112.65. A close below the 200-dma and the broken
up trendline would turn the short-term technical picture negative. Bears need to
close below Tuesday's low of 112.31 and the 100-dma at 112.14, a break of which
would shift the outlook negative. This would open the Oct 26 low at 111.38. Over
recent days, resistance has been found around the 21-dma which is now at 113.15.
For a return to the bull trend, we need to see a move to the 114 level before
challenging the ytd high at 114.55.

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.