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Free AccessY111.70-112.18 Resistance Key......>
DOLLAR-YEN TECHS: Y111.70-112.18 Resistance Key
*RES 4: Y112.49 21-DMA
*RES 3: Y112.18 High July 26
*RES 2: Y111.70 Hourly support July 26 now resistance
*RES 1: Y111.39 Hourly resistance July 27
*PRICE: Y111.13 @ 0430GMT
*SUP 1: Y110.75 Low June 27
*SUP 2: Y110.62 Low June 16
*SUP 3: Y110.52 Bollinger band base
*SUP 4: Y110.34 High June 14 now support
*COMMENTARY: Focus has returned to Y110.34-62 following the rejection above the
200-DMA (Y112.14) Wednesday. Hesitation ahead of this region is less than ideal
for bears with daily studies lingering at O/S. Bulls look for a close above
Y111.70 to shift focus to Y112.18-87 where the 21-DMA is located. Bears take
comfort in Y111.70 capping but now need a close below Y110.75 to reconfirm focus
on Y110.34-62. A close below Y110.34 then targets Y108.81-109.25.
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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.