Free Trial

Y111.79-Y111.84 Provides...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y111.79-Y111.84 Provides Resistance To Recovery Hopes
*RES 4: Y113.64 Dec 21 high
*RES 3: Y113.38 Dec 27 high
*RES 2: Y113.00/12 Hourly high Dec 28, Dec 26 low
*RES 1: Y112.79/84 Jan 1, Jan 2 highs, Dec 25 low
*PRICE: Y112.55 @1033GMT
*SUP 1: Y112.20/25 Hourly support
*SUP 2: Y111.95/03 61.8% Fibo of Y110.84-Y113.75, Dec 15 low
*SUP 3: Y111.75 1% volatility band
*SUP 4: Y111.53 76.4% Fibo of Y110.84-Y113.75
*COMMENTARY* Having held above Y112.03 support on Tuesday, the recovery has
since run into initial resistance from the week's earlier Y112.79 highs. A move
back through here and also the Dec 25 low at Y112.84 is currently required to
breathe new life into the topside and a higher Y113.00-Y113.38 rise, where next
questions are then asked. Support from Y112.20 protects against another Y112.03
test, beneath which would open up a Y111.95-Y111.53 fall.

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.