Free Trial

Approaching The Next Objectives

  • RES 4: 107.53 High Jul 20, 2020
  • RES 3: 107.15 50.0% retracement of the Mar 2020 - Jan downleg
  • RES 2: 107.05 High Aug 13, 2020
  • RES 1: 106.95 High Aug 28, 2020
  • PRICE: 106.82 @ 06:22 GMT Mar 2
  • SUP 1: 105.85 Low Feb 25/26
  • SUP 2: 105.48 20-day EMA
  • SUP 3: 105.21 Trendline support drawn off the Jan 6 low
  • SUP 4: 104.92 Low Feb 23 and a key support

The USDJPY outlook remains bullish. Last week's gains above 106.22, Feb 17 high, confirmed a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies remain in a bull mode reinforcing current conditions and price remains above its trendline support drawn off the Jan 1 low. The focus is on 106.95 and 107.05, Aug 28/13, 2020 highs. Support lies at 105.85, Feb 25/26 low.

To read the full story



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.