Free Trial

Approaching Key Resistance

USDJPY TECHS
  • RES 4: 140.86 1.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 3: 140.11 1.618 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 140.00 Psychological round number
  • RES 1: 139.39 High Jul 14 and key resistance
  • PRICE: 138.82 @ 06:28 BST Aug 29
  • SUP 1: 137.37 Intraday low
  • SUP 2: 135.82 Low Aug 23 and key near-term support
  • SUP 3: 134.75 50-day EMA
  • SUP 4: 133.91 Low Aug 17

USDJPY short-term conditions remain bullish and the pair has started the week on a firm note, clearing recent resistance at 137.71, the Aug 22 high. The break higher confirms a resumption of the current bull cycle and attention is on the next key resistance at 139.39, the Jul 14 high. A break of this hurdle would confirm a resumption of the primary uptrend. On the downside, key short-term support has been defined at 135.82, the Aug 23 low.

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.