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Free AccessY113.75 Break Allows Further.......>
DOLLAR-YEN TECHS: Y113.75 Break Allows Further Upside Correction
*RES 4: Y114.74 Nov 6 high
*RES 3: Y114.34/35 Nov 7 high, 76.4% Fibo Y114.74-Y113.09
*RES 2: Y114.07/10 Nov 9 high, 61.8% Fibo Y114.74-Y113.09
*RES 1: Y113.91 50% Fibo Y114.74-Y113.09
*PRICE: Y113.70 @1055GMT
*SUP 1: Y113.40 Hourly support
*SUP 2: Y113.22/24 Nov 10, Nov 13 lows
*SUP 3: Y113.09 Nov 9 low
*SUP 4: Y112.96 Oct 31 low
*COMMENTARY* Still finding support from within the recent range, the
Y113.22-Y113.09 area now protecting the key Y112.96 support level. The upside
can benefit now from the move through Y113.75 resistance, above which would
allow a higher Y113.91-Y114.34 rise, as we claw back some of the recent losses
from Y114.74. Support from within the range at Y113.40, loss would caution now
and put pressure back on the downside.
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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.