Free Trial
FOREX

Currencies Tread Water Pre-CPI

GERMAN AUCTION RESULTS

0% Aug-52 Bund

COMMODITIES

Oil Claws Back From Overnight Lows

ENERGY

France to Make it Through Winter: EDF

EURIBOR

EURIBOR FIX

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Trend Needle Still Points North

USDJPY TECHS
  • RES 4: 138.56 1.618 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 137.30 1.50 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 2: 136.04 1.382 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 1: 135.19 High Jun 13
  • PRICE: 134.76 @ 16:08 BST Jun 14
  • SUP 1: 133.19/131.87 Low Jun 9 / Low Jun 7
  • SUP 2: 130.97 20-day EMA
  • SUP 3: 128.17 50-day EMA
  • SUP 4: 126.36 Low May 24 and key support

USDJPY Monday traded above the 135.00 handle - the weakest level since 1998. The move higher maintains the current bullish theme plus the positive price sequence of higher highs and higher lows. Moving average studies are also pointing north and indications are that the USD has further to go, despite being on overbought territory. The focus is on the 136.04, a Fibonacci projection. Initial firm support is seen at 130.97, the 20-day EMA.

157 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 138.56 1.618 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 137.30 1.50 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 2: 136.04 1.382 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 1: 135.19 High Jun 13
  • PRICE: 134.76 @ 16:08 BST Jun 14
  • SUP 1: 133.19/131.87 Low Jun 9 / Low Jun 7
  • SUP 2: 130.97 20-day EMA
  • SUP 3: 128.17 50-day EMA
  • SUP 4: 126.36 Low May 24 and key support

USDJPY Monday traded above the 135.00 handle - the weakest level since 1998. The move higher maintains the current bullish theme plus the positive price sequence of higher highs and higher lows. Moving average studies are also pointing north and indications are that the USD has further to go, despite being on overbought territory. The focus is on the 136.04, a Fibonacci projection. Initial firm support is seen at 130.97, the 20-day EMA.