Free Trial

Y111.69-Y111.89 The Bar To.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y111.69-Y111.89 The Bar To Further Recovery Hopes
*RES 4: Y112.72 Nov 20 high
*RES 3: Y112.30/35 Hourly congestion area Nov 21-22
*RES 2: Y111.89 Nov 17 low, now resistance
*RES 1: Y111.69 Nov 24 high
*PRICE: Y111.45 @0804GMT
*SUP 1: Y111.06 Hourly base Nov 28
*SUP 2: Y110.84 Nov 27 low
*SUP 3: Y110.69 Sep 13 high, 1.618 swing of Y111.07-Y111.69
*SUP 4: Y110.15 61.8% Fibo of Y107.32-Y114.74
*COMMENTARY* Last week saw the decline continue, breaking below Y111.89-Y111.65
support. Monday, the fall broke below the next support of note, the 50% Fibo
retrace level at Y111.03. Some earlier interest from the lower 1% volatility
band at Y110.72 but dual support from Y110.69 is the next potential target area,
ahead of the 61.8% Fibo retrace at Y110.15. Resistance in the meantime, comes
from Y111.69-Y111.89. Back above the latter needed to improve recovery chances.

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.