Free Trial

Trades Through 109.73 Key..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trades Through 109.73 Key Resistance
*RES 4: 110.67 High May 21
*RES 3: 110.53 76.4% retracement of the Apr 24 - Aug 26 decline
*RES 2: 110.36 High May 23
*RES 1: 109.94 High Jan 13
*PRICE: 109.90 @ 16:19 GMT Jan 13
*SUP 1: 109.45 Intraday low
*SUP 2: 109.01 Low Jan 9
*SUP 3: 107.62 Low Jan 8
*SUP 4: 107.10 50% retracement of the Aug 26 - Dec 2 rally
USDJPY is bullish following last week's strong rebound and has extended this
theme Monday with a breach of key resistance at the Dec 2 high of 109.73. The
break represents a significant bullish development and confirms a resumption of
the underlying bull trend that has been in place since Aug 26 last year. A break
higher has opened 109.93 and exposes 110.00 and beyond. Initial support now lies
at 109.45, Monday's intraday low.

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.