Free Trial

20-Day EMA Continues To Provide Support

USDJPY TECHS
  • RES 4: 146.52 1.236 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 3: 146.03 2.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 145.90 High Sep 22
  • RES 1: 143.13 50.0% retracement of today’s range
  • PRICE: 142.18 @ 06:36 BST Sep 23
  • SUP 1: 141.75 20-day EMA
  • SUP 2: 140.36 Low Sep 22
  • SUP 3: 139.87 Low Sep 2
  • SUP 4: 138.85 50-day EMA

USDJPY traded in a volatile manner Thursday following BOJ intervention. The pullback resulted in a print below 141.75, the 20-day EMA. The trend structure remains bullish and it is too early to tell whether yesterday’s price action is the start of a more meaningful reversal. A daily close below the 20-day EMA and below 140.00 would strengthen a bearish threat. A resumption of gains would refocus attention on 145.00 and beyond.

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.