Free Trial

Approaching The 50-Day EMA

USDJPY TECHS
  • RES 4: 146.12 76.4% Oct-Jan Downleg
  • RES 3: 145.66 1.50 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 2: 144.20/145.07 High Jul 7 / Jun 30 and the bull trigger
  • RES 1: 143.01 Monday’s high
  • PRICE: 140.84 @ 06:43 BST Jul 11
  • SUP 1: 140.34 50-day EMA
  • SUP 2: 139.85/84 Low Jun 16 / 50-dma
  • SUP 3: 139.18 38.2% retracement of the Mar 24 - Jun 30 bull leg
  • SUP 4: 138.76+ Low Jun 9

USDJPY maintains a bearish tone and the pair is trading lower today. Price has breached the 20-day EMA and cleared support at 142.29, the former bull channel top drawn from the Jan 16 low. Attention is on support at the 50-day EMA that intersects at 140.34. A clear break of this average would strengthen bearish conditions and open 139.85, the Jun 16 low and the area around the 50-day simple MA. Initial resistance is at 143.01, yesterday’s high.

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.