Free Trial

Bullish Outlook

USDJPY TECHS
  • RES 4: 146.52 1.236 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 3: 146.03 2.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 145.90 High Sep 22 and the bull trigger
  • RES 1: 145.34 High Oct 7
  • PRICE: 145.03 @ 14:15 BST Oct 7
  • SUP 1: 143.20/141.77 20-day EMA / Low Sep 23
  • SUP 2: 140.36 Low Sep 22, 50-day EMA and key short-term support
  • SUP 3: 139.39 High Jul 14 and a former key resistance
  • SUP 4: 137.37 Low Aug 29

USDJPY remains in consolidation mode. The pair is holding on to the bulk of its recent gains from 140.36, the Sep 22 low and the key short-term support. The primary uptrend remains intact and sights are on the bull trigger at 145.90, Sep 22 high. A break would confirm a resumption of the trend and open 146.03, a Fibonacci projection. Clearance of 140.36 is required to highlight a top.

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.