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Free AccessMNI US OPEN - RBNZ Cuts 50bps, OCR Forecast Slightly Higher
MNI China Daily Summary: Wednesday, November 27
Y108.82 Support Comes Under........>
DOLLAR-YEN TECHS: Y108.82 Support Comes Under Pressure
*RES 4: Y110.60/65 Congestion area Aug 4-Aug 8
*RES 3: Y110.18 Aug 10 high
*RES 2: Y109.84 Aug 3 low, now resistance
*RES 1: Y109.56 Aug 9 low, hourly resistance
*PRICE: Y109.05 @1518GMT
*SUP 1: Y108.73/82 Intraday low, Jun 14 low
*SUP 2: Y108.32 Equality fall from Y112.20 to Y114.50-Y110.62
*SUP 3: Y108.05/13 5 week bear channel proj'n, Apr 17 low
*SUP 4: Y107.92 2% volatility band
*COMMENTARY* Has worked its way through congested support from between
Y109.63-Y109.21 and has commenced an assault on the Jun 14 low at Y108.82. Can
be helped in the near term by some oversold hourly conditions but will need to
find a way back through Y109.56-Y109.84, before any confidence in a recovery
will appear and a challenge to Thursday's Y110.18 high. Maintained break of
Y108.82 and the equality fall Y108.32 then protects the year's Y108.13 low.
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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.