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USDJPY: Key S/T Resistance Is At...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: USDJPY: Key S/T Resistance Is At 107.50
*RES 4: 109.38 High Apr 6
*RES 3: 108.59 High Apr 10
*RES 2: 108.08 High Apr 16 and 17 and key resistance
*RES 1: 107.50 Apr 30 recovery high
*PRICE: 107.23 @ 10:35 BST May 11
*SUP 1: 106.22 Low May 8
*SUP 2: 105.99 Low May 6 and 7 low
*SUP 3: 105.81 Low Mar 17
*SUP 4: 105.21 61.8% retracement of the Mar 9 - 24 rally
USDJPY is firmer having managed to find support at 105.99 on May 6 and 7.
Despite the current recovery, the outlook remains bearish. Last week's breach of
106.36, Apr 30 low reinforced bearish conditions supported by MA studies that
continue to point south. Attention is on the next objectives at 105.81, Mar 17
low and 105.21, the 61.8% retracement of the Mar 9 - 24 rally. Key short-term
resistance is 107.50, Apr 30 high. A break would alter the picture.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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