Free Trial

Trades Through Key Resistance......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trades Through Key Resistance
*RES 4: 109.85 High Jun 5 and key resistance
*RES 3: 108.54 High Jun 9
*RES 2: 108.13 1.0% 10-dma envelope
*RES 1: 107.94 High Jun 30
*PRICE: 107.81 @ 17:30 BST Jun 30
*SUP 1: 106.80 Low Jun 26
*SUP 2: 106.07 Low Jun 23 and the intraday bear trigger
*SUP 3: 105.99 Low May 6 and 7 and key support
*SUP 4: 105.81 Low Mar 17
USDJPY has traded through resistance at 107.64, Jun 16 high and is holding onto
gains. A bearish focus has been in place following last week's breach of support
at 106.58, Jun 11 low. This confirmed a resumption of the sell-off from Jun 5.
Although Monday's breach of 107.64 is a bullish development, the outlook remains
bearish with attention on 105.99, May 6 and 7 low. This is a key bear trigger.
On the upside, further gains if seen would open 108.54, Jun 9 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.