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Free AccessMNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22
MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday
Y108.54 & Y109.54 Levels Key.......>
DOLLAR-YEN TECHS: Y108.54 & Y109.54 Levels Key This Week
*RES 4: Y111.17 Daily Bull channel top
*RES 3: Y110.48 55-WMA
*RES 2: Y110.19 200-DMA
*RES 1: Y109.54 Alternating daily support/resistance
*PRICE: Y108.98 @ 0430GMT
*SUP 1: Y108.95 Daily Bull channel base off 2018 lows
*SUP 2: Y108.64 100-DMA
*SUP 3: Y108.54 Hourly support Apr 23
*SUP 4: Y108.27 Hourly resistance Apr 23 now support
*COMMENTARY: Hesitation ahead of the 200-DMA combined with daily studies
correcting from O/B is a concern for bulls and currently weighs. Bears continue
to look for a close below Y108.54 to break the channel base and shift initial
focus back to Y107.85 whereas below Y106.57 is needed to see bears targeting
2018 lows. Bulls still need a close above Y109.54 to gain breathing room and
above the 55-WMA to initially target Y111.48-98.
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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.