Free Trial

Continues To Appreciate

USDJPY TECHS
  • RES 4: 150.78 High Nov 17
  • RES 3: 149.75 High Nov 22
  • RES 2: 149.16 76.4% retracement of the Nov 13 - Dec 28 bull leg
  • RES 1: 148.80 High Jan 19
  • PRICE: 148.15 @ 16:18 GMT Jan 19
  • SUP 1: 147.08 Low Jan 17
  • SUP 2: 145.57/145.17 50- and 20-day EMA values
  • SUP 3: 144.36 Low Jan 12 and key S/T support
  • SUP 4: 143.42 Low Jan 9

USDJPY maintains a bullish tone and continues to appreciate. This week’s gains resulted in a break of 146.41, the Jan 11 high, confirming a resumption of the bull cycle. The move higher opens 149.16 next, a Fibonacci retracement. On the downside, a key short-term support has been defined at 144.36, the Jan 12 low. Clearance of this level is required to signal a top. Initial support lies at 147.08, the Jan 17 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.