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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.
USDJPY TECHS
USDJPY is firm and the uptrend has accelerated today following a resumption of the uptrend Friday - the pair cleared former resistance at 112.08, Sep 30 high.
- The break paves the way for further gains and places on the radar, 113.41.
- This is a multi-year trendline resistance drawn from the December 1975 high. - A break would strengthen both the S/T and M/T bullish trend conditions.
- On the downside, initial support is at 112.08. Key trend support has been defined at 110.82. - Resistance levels to watch:
- RES 1: 113.41 Multi-year trendline drawn from the Dec 1975 high
- RES 2: 113.89 1.236 proj of Apr 23 - Jul 2 - Aug 4 price swing
- RES 3: 114.50 1.382 proj of Apr 23 - Jul 2 - Aug 4 price swing-
- Note that above 113.41, another, flatter trendline intersects at 117.21. This line is drawn from the April 1990 high. A break would also represent an important bullish development.
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.
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