Free Trial

Trading Back Below 55-DMA *RES.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trading Back Below 55-DMA
*RES 4: Y113.74 High Dec 12 
*RES 3: Y113.44 High Dec 22 
*RES 2: Y113.20 Daily Bear channel top 
*RES 1: Y112.91 55-DMA
*PRICE: Y112.62 @ 0210GMT
*SUP 1: Y112.45 Low Jan 4 
*SUP 2: Y111.98 Low Dec 6 
*SUP 3: Y111.70 200-DMA 
*SUP 4: Y111.35 Low Nov 29
*COMMENTARY: Time spent above the 55-DMA has been brief with the break below
Y112.86 leaving the pair looking heavy and reconfirming focus on the
Y110.83-111.98 support region where 100 & 200-DMAs are noted. Bears continue to
look for a close below Y110.83 to target 2017 lows. Bulls continue to look for a
close above Y113.44 to confirm a break of the channel top and shift overall
focus back to Y114.72.

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.