Free Trial

Trend Outlook Remains Bullish

USDJPY TECHS
  • RES 4: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 130.43 High Apr 24 2002
  • RES 2: 130.00 Psychological round number
  • RES 1: 129.44 0.764 proj of the Feb 24 - Mar 28 - 31 price swing
  • PRICE: 128.47 @ 15:47 BST Apr 21
  • SUP 1: 127.46/26.98 Low Apr 20 / Low Apr 19
  • SUP 2: 125.87 Low Apr 15
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.44 20-day EMA

The USDJPY uptrend remains intact. The pair rallied initially Wednesday, extending the recent bullish cycle to touch 129.40. Short-term pullbacks - as seen on Wednesday - should prove corrective. Recent activity reinforces underlying bullish conditions and signals potential for a continuation of the bull cycle, with the focus on 129.44 next, a Fibonacci projection. Sights are also on the psychological 130.00 handle. A firm support is seen at 125.09.

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.