Trial now
RBA

Upcoming Lowe Appearance Postponed

JGBS

Curve Twist Steepens, Bucking The Trend

AUSSIE BONDS

IRU1 Given

AUSSIE BONDS

Correction To XM Price In Previous Bullet

AUSSIE BONDS

No Reaction To Long Bond Tap Announcement

Bear Channel Resistance Cracks

USDJPY TECHS
  • RES 4: 105.16 High Nov 13
  • RES 3: 104.95 76.4% retracement of the Nov 11 - Jan 6 downleg
  • RES 2: 104.76/78 High Nov 24 / 1.0% 10-dma envelope
  • RES 1: 104.20/104.40 High Jan 27 / High Jan 11
  • PRICE: 104.19 @ 20:30 GMT Jan 27
  • SUP 1: 103.33 Low Jan 21
  • SUP 2: 103.28/02 61.8% and 76.4 % of the Jan 6 - 11 rally
  • SUP 3: 102.59 Low Jan 6 and the bear trigger
  • SUP 4: 102.02 Low Mar 10

USDJPY traded well Wednesday, placing the bear channel resistance under considerable pressure. This opens a move toward 104.40, the Jan 11 high, a rise above which would signal a reversal of the trend. To the downside, fresh weakness would expose 103.28 and 103.02, Fibonacci retracements. Clearance of 103.95 and 104.40, Jan 11 high would reverse the trend.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com