Free Trial

Y112.48-89 Resistance Region Key...>

DOLLAR-YEN TECHS: Y112.48-89 Resistance Region Key
*RES 4: Y113.18 Hourly support Oct 6 now resistance 
*RES 3: Y112.89 Hourly resistance Oct 6 
*RES 2: Y112.58 High Oct 11 
*RES 1: Y112.48 High Oct 17
*PRICE: Y112.23 @ 0430GMT
*SUP 1: Y112.04 Hourly support Oct 17 
*SUP 2: Y111.65 Low Oct 16 
*SUP 3: Y111.48 Low Sept 25 
*SUP 4: Y111.15 100-DMA
*COMMENTARY: Despite finding support on dips below the 200-DMA recently, bulls
failed to gain traction on the pop above the 21-DMA (Y112.39) Tuesday. Initial
support is noted at Y112.04 with bears needing a close below to retain focus on
Y111.48-65 and below Y111.48 to initially pressure 100 (Y111.15) & 55 (Y110.79)
DMAs. Bulls now need a close above Y112.58 to ease bearish pressure and above
Y112.89 to shift immediate focus back to Y113.44-70.

To read the full story



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.