Free Trial

Y108 key at the close: *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y108 key at the close:
*RES 4: 109.92 High May 30
*RES 3: 109.62 High May 31 and standard candle line high
*RES 2: 109.02 Low May 13 and key short-term resistance
*RES 1: 108.80 20-day EMA and just above the Jun 11 high
*PRICE: 108.09 @ 19:15 GMT June 19
*SUP 1: 107.88 Low Jun 6
*SUP 2: 107.81 Jun 5 low and bear flag base
*SUP 3: 107.46 Low Jan 4
*SUP 4: 107.00 Round number support
The pair showed below the 108.00 handle in response to the dovish Fed decision,
but the June 6th low held firm at 107.88. This cements the bearish conditions in
USDJPY, with markets now looking for a break of the 107.81 support to confirm a
resumption of weakness. A move above 109.00 is required threaten the bearish
tone, but there remains firm resistance layered between 108.62 - 108.80.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.