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Free AccessY109.63-Y109.21 Forms Some.........>
DOLLAR-YEN TECHS: Y109.63-Y109.21 Forms Some Congested Near Term Support
*RES 4: Y111.05 Aug 4 high
*RES 3: Y110.83 Aug 8 high
*RES 2: Y110.50/60 Congestion area Aug 4-Aug 7
*RES 1: Y110.25 Initial low Aug 8
*PRICE: Y109.97 @1611GMT
*SUP 1: Y109.63 76.4% Y108.13-Y114.50, swing Y110.62-Y112.20
*SUP 2: Y109.48/56 4 month bull channel base, intraday low
*SUP 3: Y109.21/34 1.618 swing Y109.91-Y111.05, 1% vol band
*SUP 4: Y108.82 Jun 14 low
*COMMENTARY* Finally getting a decent test to the Y109.63 area, a low of Y109.56
so far. This at the top end of what looks a congested support area between here
and the swing target at Y109.21. Any lower and still have the Jun 14 low at
Y108.82 to negotiate, before the year's previous Y108.13 low comes back into
view. Meanwhile look to Y110.25 for initial resistance, back above here now the
minimum requirement for a bounce, Y110.50-60 above.
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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.