Free Trial

Y111.60-Y111.68 Likely To..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y111.60-Y111.68 Likely To Provide Next Test To This Rise
*RES 4: Y112.31 2% volatility band
*RES 3: Y112.03/06 Dec 15, Jan 2 lows, now resistance
*RES 2: Y111.68 2 month bull channel top projection
*RES 1: Y111.60 76.4% Fibo of Y113.75-Y104.63
*PRICE: Y111.12 @1540GMT
*SUP 1: Y110.80/90 Hourly support
*SUP 2: Y110.61 May 18 low
*SUP 3: Y110.35 Hourly highs/lows May 16-17
*SUP 4: Y110.04 May 2 high, May 16 low
*COMMENTARY* Has continued to benefit from finding support earlier in the month,
from the 2 month bull channel base, at Y109.83 by time today. Having straddled
the upper 1% volatility band at Y111.21 today, the next upside targets range
between the Jan 18 high at Y111.48 and the channel top at Y111.68. Sandwiched in
between lies the 76.4% Fibo retrace level at Y111.60. Support comes from above
Y110.90-Y110.80 and then Friday's Y110.61 low. 

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.