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MNI China Daily Summary: Thursday, March 30

MNI BRIEF: BOJ Extends Bilateral Swap Agreement with Thailand

MNI BRIEF: BOJ Tankan To Show Mixed Sentiment, Solid Capex

MNI: SAXONY MAR CPI +0.9% M/M, +8.3% Y/Y

MNI: HESSE MAR CPI +0.8% M/M

MNI: BADEN WUERT MAR CPI +0.9% M/M, +7.8% Y/Y

MNI INTERVIEW: Canada Budget Keeps BOC On Pause: Ex Official

MNI BRIEF: FDIC To Conduct Review Of Deposit Insurance

MNI BRIEF: Fed's Barr: Will Use All Tools To Keep Banks Safe

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Bear Flag

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 134.77/81 High Jan 6 / 23.6% Oct - Jan downleg
  • RES 3: 134.62 50-day EMA
  • RES 2: 132.87 High Jan 11
  • RES 1: 131.16/58 20-day EMA / High Jan 18
  • PRICE: 129.15 @ 06:57 GMT Jan 20
  • SUP 1: 127.23 Low Jan 16 and the bear trigger
  • SUP 2: 126.81 1.382 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 3: 126.36 Low May 24 and a key support
  • SUP 4: 125.49 1.50 proj of the Oct 31 - Nov 15 - 21 price swing

USDJPY remains below this week’s high and the 20-day EMA. The average intersects at 131.16 today. Recent activity appears to be a bear flag formation - if correct it reinforces the downtrend and signals scope for a continuation of the trend. A break lower would open 126.81, a Fibonacci projection - the bear trigger is 127.23, the Jan 16 low. On the upside, clearance of 131.58, Wednesday's high, would be bullish.

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  • RES 4: 134.77/81 High Jan 6 / 23.6% Oct - Jan downleg
  • RES 3: 134.62 50-day EMA
  • RES 2: 132.87 High Jan 11
  • RES 1: 131.16/58 20-day EMA / High Jan 18
  • PRICE: 129.15 @ 06:57 GMT Jan 20
  • SUP 1: 127.23 Low Jan 16 and the bear trigger
  • SUP 2: 126.81 1.382 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 3: 126.36 Low May 24 and a key support
  • SUP 4: 125.49 1.50 proj of the Oct 31 - Nov 15 - 21 price swing

USDJPY remains below this week’s high and the 20-day EMA. The average intersects at 131.16 today. Recent activity appears to be a bear flag formation - if correct it reinforces the downtrend and signals scope for a continuation of the trend. A break lower would open 126.81, a Fibonacci projection - the bear trigger is 127.23, the Jan 16 low. On the upside, clearance of 131.58, Wednesday's high, would be bullish.