Free Trial

Uptrend intact for now: *RES 4:....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Uptrend intact for now:
*RES 4: 109.59/62 50.0% retracement of Apr 24-Jun 25 decline / High May 31
*RES 3: 109.02 Low May 13
*RES 2: 108.93/99 38.2% retracement of Apr 24-Jun 25 decline / High Jul 10
*RES 1: 108.42/61 100-hma / High Jul 12
*PRICE: 108.05 @ 04.24 GMT July 15
*SUP 1: 107.80 Intraday low
*SUP 2: 107.53 Low Jul 3
*SUP 3: 107.27 Former channel resistance drawn off the Jul 3 low
*SUP 4: 107.10 Low Jun 26
USDJPY is trading at the lower end of last weeks range. The bear channel
breakout on Jul 1 highlighted a bullish price sequence in the pair that for now
remains in place. Today the former channel top now support, intersects at 107.27
and represents a key level. The ability to hold above this level would maintain
the uptrend that has been established off the 106.78 low of Jun 25. The focus is
on 108.99.

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.