Free Trial

Bears Remain In The Driver's Seat

USDJPY TECHS
  • RES 4: 145.11 Low Oct 27 and a recent breakout level
  • RES 3: 143.37 50-day EMA
  • RES 2: 142.48 High Nov 11
  • RES 1: 139.64/142.25 Intraday high / High Nov 21 and the bull trigger
  • PRICE: 138.60 @ 07:06 GMT Nov 24
  • SUP 1: 137.68 Low Nov 15 and a bear trigger
  • 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 lower today. The sell-off from Tuesday’s high signals the end of the corrective bounce between Nov 15 - 22. Attention is on the bear trigger at 137.68, the Nov 15 low where a break would confirm a resumption of the downtrend and open 137.37, the Aug 29 low. Key short-term resistance has been defined at 142.25, the Nov 21 high.

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.