MNI BRIEF: US May Existing Home Sales Pace Falls 0.7% To 4.11M

MNI INTERVIEW2: Uninsured Bank Deposits Still Vulnerable-Bair

CANADA APR RETAILS +0.7%, MATCHING FORECAST, PRIOR -0.3%

MNI BRIEF: China Hopes EU To Ease Frictions Via Negotiations

MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 485; GAS RIGS 98

EZ/UK Bond Supply Calendar: EU Auction, BoE APF Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

All Eyes On Key Support

USDJPY TECHS
  • RES 4: 105.20 76.4% retracement of the Nov 11 - 18 sell-off
  • RES 3: 104.76 High Nov 4 and key S/T resistance
  • RES 2: 104.28 High Dec 11
  • RES 1: 103.92 High Dec 16
  • PRICE: 103.31 @ 06:13 GMT Dec 17
  • SUP 1: 103.26 Low Dec 16
  • SUP 2: 103.18/09 Low Nov 6 / Low Mar 12 and key support
  • SUP 3: 102.75 1.00 proj of Oct 7 - Nov 6 downleg from Nov 11 high
  • SUP 4: 102.02 Low Mar 10

USDJPY traded lower again yesterday and remains weak. The pair has breached Monday's low of 103.51 signalling scope for a deeper pullback. Attention turns to the key support of 103.18, Nov 6 low. A break of this level would negate a bullish engulfing reversal candle on Nov 9 and instead confirm a resumption of the broader downtrend and open 102.75, a Fibonacci projection. Firm S/T resistance resides at 104.76, Nov 4 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.