Free Trial

Bull Trigger Remains Exposed

USDJPY TECHS
  • RES 4: 147.25 3.00 proj of the Aug 2 - 8 - 11 price swing
  • RES 3: 146.52 1.236 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 2: 146.03 2.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 145.90 High Sep 22, intraday high and the bull trigger
  • PRICE: 145.84 @ 20:28 BST Oct 11
  • SUP 1: 143.87/141.77 20-day EMA / Low Sep 23
  • SUP 2: 141.08 50-day EMA
  • SUP 3: 140.36 Low Sep 22, and key support
  • SUP 4: 139.39 High Jul 14 and a former key resistance

USDJPY maintains a bullish tone and has traded higher today. The primary uptrend is intact and sights are on the bull trigger and key resistance at 145.90, the Sep 22 high and today’s high print. A break of this hurdle would confirm a resumption of the trend and open 146.03, a Fibonacci projection. On the downside, clearance of 140.36 is required to highlight a top. Initial firm support is seen at 143.87, the 20-day EMA.

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.