Free Trial

Corrective Cycle

USDJPY TECHS
  • RES 4: 113.00 2.0% 10-dma envelope
  • RES 3: 112.40 High Apr 24, 2019
  • RES 2: 112.23 High Feb 20, 2020
  • RES 1: 111.49/112.08 High Oct 1 / High Sep 30
  • PRICE: 111.18 @ 06:23 BST Oct 5
  • SUP 1: 110.80 High Aug 11
  • SUP 2: 110.19/109.11 50-day EMA / Low Aug 16 and Sep 15
  • SUP 3: 108.72 Low Aug 04 and the bear trigger
  • SUP 4: 108.56 Low May 25

The USDJPY uptrend remains intact following last week's break of 111.66, Jul 2 high. This has confirmed a resumption of the bull cycle that started Jan 6 and opens 112.23 next, Feb 20, 2020 high. Near-term, the risk of a corrective pullback remains and is highlighted by a bearish engulfing candle on Sep 30. Key short-term support is at 109.11, Aug 16 / Sep 15 low. Initial firm support is seen at 110.19, 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.