Free Trial

Bull Cycle Remains Intact

USDJPY TECHS
  • RES 4: 149.71 High Oct 24 2022
  • RES 3: 149.10 High Oct 25 2022
  • RES 2: 148.85 High Oct 31 2022
  • RES 1: 148.60 2.236 projection of the Jul 14 - 21 - 28 price swing
  • PRICE: 147.53 @ 20:54 BST Sep 22
  • SUP 1: 146.93/145.91 20-day EMA / Low Sep 11
  • SUP 2: 145.03 50-day EMA
  • SUP 3: 144.45 Low Sep 1 and key support
  • SUP 4: 143.30 Low Aug 10

The USDJPY trend needle continues to point north and the pair traded higher Friday before finding some resistance. The focus is on a climb towards 148.60 next, a Fibonacci projection. Moving average studies remain in a bull mode position, highlighting the market's positive sentiment. Further out, scope is seen for a climb towards the 150.00 handle. On the downside, initial firm support lies at 145.91, the Sep 11 low.

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.