Free Trial

Bearish Outlook

USDJPY TECHS
  • RES 4: 144.60 20-day EMA
  • RES 3: 144.14 50-day EMA
  • RES 2: 142.48 High Nov 11
  • RES 1: 140.80 High Nov 14
  • PRICE: 139.74 @ 06:54 GMT Nov 16
  • SUP 1: 137.68 Low Nov 15
  • SUP 2: 137.37 Low Aug 29
  • SUP 3: 135.82 Low Aug 23
  • SUP 4: 135.49 76.4% retracement of the Aug 2 - Oct 21 bull leg

Short-term trend conditions in USDJPY remain bearish and the pair is trading at its recent lows. A resumption of weakness would set the scene for a move towards 137.37, the Aug 29 low. The pair has pierced 138.64, 61.8% of the Aug 2 - Oct 21 bull leg. A clear break of this key Fibonacci retracement, would reinforce bearish conditions. The 50-day EMA at 114.14 remains a key short-term resistance.

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.