Free Trial

Bearish Pressure Returns

USDJPY TECHS
  • RES 4: 112.23 High Feb 20, 2020 and a key resistance
  • RES 3: 111.71/111.78 High Mar 24, 2020 / 1.0% 10-dma envelope
  • RES 2: 111.66 High Jul 2
  • RES 1: 110.70/82 High Jul 14/ High Jul 7
  • PRICE: 109.98 @ 19:47 BST Jul 14
  • SUP 1: 109.53 Low Jul 8
  • SUP 2: 109.19 Low Jun 7 and a key near-term support
  • SUP 3: 108.56 Low May 25
  • SUP 4: 108.34 Low May 7

USDJPY failed to hold onto Wednesday's highs and tackle resistance at 110.82, Jul 7 high.The reversal lower suggests the recent 3-day recovery has been a correction and is over. If correct, further near-term weakness would expose support at 109.53, Jul 8 low and the short-term bear trigger. A break would open 109.19, Jun 7 low. Clearance of 110.70, today's intraday high and 110.82 is required to reinstate a bullish theme.

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.