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Free AccessY109.77-Y109.88 The Next...........>
DOLLAR-YEN TECHS: Y109.77-Y109.88 The Next Resistance Barrier To Cross
*RES 4: Y110.49 Jan 19 low, now resistance
*RES 3: Y110.19/26 Jan 17 low, 61.8% Fibo of Y111.48-Y108.28
*RES 2: Y109.88 50% Fibo of Y111.48-Y108.28
*RES 1: Y109.77 Jan 26 high
*PRICE: Y109.61 @0945GMT
*SUP 1: Y109.00/10 Hourly support
*SUP 2: Y108.60/62 Jan 31, Jan 29 lows
*SUP 3: Y108.22/27 Sep 11, Aug 29 lows
*SUP 4: Y107.72 1.618 swing of Y108.50-Y109.77
*COMMENTARY* Pushed lower last Friday, breaking below Y108.50 support, a low of
Y108.28, before recovering, aided by some heavily oversold hourly conditions.
Have today moved above Y109.42-Y109.48 resistance but probably need a rally
through Y109.77-Y109.88, before any real upside belief in a better correction
will follow. Y109.00-Y108.60 now protects still decent support from
Y108.27-Y108.22. This safeguards against a further Y107.72-Y107.32 fall.
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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.