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Free AccessTrades through the 107.61 Fibo,....>
DOLLAR-YEN TECHS: Trades through the 107.61 Fibo, focus now on 106.50:
*RES 4: 109.02 Low May 13
*RES 3: 108.80 High Jun 11 and key short-term resistance
*RES 2: 108.63/69 20-day EMA, trendline resistance off the Apr 24 high
*RES 1: 107.81 Low Jun 5 and recent bear trigger
*PRICE: 107.11 @ 04:36 GMT June 21
*SUP 1: 107.00 Round number support
*SUP 2: 106.50 Bear channel base off Apr 24 high/76.4% Jan 3-Apr 24 rally
*SUP 3: 106.00 Round number support
*SUP 4: 104.67 Jan 3 low
USDJPY hit fresh cycle lows Thursday, extended losses in Asia. Break of 61.8%
retracement of Jan 3-Apr 24 rally at 107.61 was also confirmed yesterday,
cementing bearish conditions and extending price sequence of lower lows and
lower highs. Attention now on 76.4% retracement at 106.50. Note, this level also
represents bear channel base highlighting potentially significant support handle
at 106.50.
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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.