Free Trial

Bulls Remain In Control

USDJPY TECHS
  • RES 4: 124.63 High Aug 13 2015
  • RES 3: 123.76 High Nov 18 2015
  • RES 2: 122.47 2.382 projection of the Dec 3 - Jan 4 - 24 price swing
  • RES 1: 121.69 High Jan 29 2016
  • PRICE: 121.14 @ 06:39 GMT Mar 23
  • SUP 1: 120.00 Round number support
  • SUP 2: 119.04/ Low Mar 21 / 118.18 Low Mar 16
  • SUP 3: 117.74/28 / 20-day EMA / Low Mar 14
  • SUP 4: 116.35 High Jan 4

USDJPY bulls remain in charge. The pair has traded higher once again today, extending this week’s climb. The USD has cleared the top of the bull channel, drawn from the Jun 1 2021 high and more importantly, traded through the psychological 120.00 handle. This confirms a resumption of the uptrend and strengthens bullish conditions. The focus shifts to 121.69 next, the Jan 29 2016 high. Support is seen at Monday’s 119.04 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.