Free Trial

Clears The Sep 22 Intervention Low

USDJPY TECHS
  • RES 4: 147.57 High Nov 7
  • RES 3: 146.93 High Nov 8
  • RES 2: 144.75 50-day EMA
  • RES 1: 142.148/143.40 Intraday high / 50.0% of the Nov 10 range
  • PRICE: 139.74 @ 10:06 GMT Nov 11
  • SUP 1: 139.48 Intraday low
  • SUP 2: 138.64 61.8% retracement of the Aug 2 - Oct 21 bull leg
  • SUP 3: 138.05 Low Aug 30
  • SUP 4: 137.37 Low Aug 29

A sharp sell-off in USDJPY Thursday continues to weigh on sentiment and the pair is trading lower again today. Yesterday’s sell-off confirmed a continuation of the current bear cycle that is unwinding a recent overbought condition in the longer-term bull trend. Support at 140.36, the Sep 22 intervention low has been cleared. This opens 138.64 next, a Fibonacci retracement. Initial firm resistance is seen at 144.75, the 50-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.