© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: China Needs Expansionary Fiscal and Monetary Moves

MNI BRIEF: 2% Is Not In Sight, Easy Policy Remains- BOJ's Ueda

MNI BRIEF: BOJ Keeps Economic Recovery, Inflation View

MNI: UK SEP CBI INDUSTRIAL TRENDS TOTAL ORDERS -18

MNI: UK SEP FLASH MANUF PMI 44.2 (FCST 43.2); AUG 43.0

MNI: EUROZONE SEP FLASH MANUF PMI 43.4 (FCST 44.0); AUG 43.5

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

Corrective Pullback

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 148.60 2.236 projection of the Jul 14 - 21 - 28 price swing
  • RES 3: 148.40 High Nov 4 2022
  • RES 2: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
  • RES 1: 147.37 High Aug 29 and the bull trigger
  • PRICE: 145.56 @ 06:29 BST Sep 1
  • SUP 1: 145.06 20-day EMA
  • SUP 2: 144.54 Low Aug 23
  • SUP 3: 143.22 50-day EMA
  • SUP 4: 141.52 Low Aug 7

USDJPY has pulled back from its recent highs - the move lower is considered corrective. The uptrend remains intact and this week’s fresh cycle high has reinforced bullish conditions. The focus is on 147.49, a Fibonacci projection. A break would open 148.40, the Nov 4 2022 high. Note that moving average studies remain in a bull mode condition, reflecting current positive market sentiment. The first key support to watch lies at 145.06, the 20-day EMA.

147 words

To read the full story

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.
  • RES 4: 148.60 2.236 projection of the Jul 14 - 21 - 28 price swing
  • RES 3: 148.40 High Nov 4 2022
  • RES 2: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
  • RES 1: 147.37 High Aug 29 and the bull trigger
  • PRICE: 145.56 @ 06:29 BST Sep 1
  • SUP 1: 145.06 20-day EMA
  • SUP 2: 144.54 Low Aug 23
  • SUP 3: 143.22 50-day EMA
  • SUP 4: 141.52 Low Aug 7

USDJPY has pulled back from its recent highs - the move lower is considered corrective. The uptrend remains intact and this week’s fresh cycle high has reinforced bullish conditions. The focus is on 147.49, a Fibonacci projection. A break would open 148.40, the Nov 4 2022 high. Note that moving average studies remain in a bull mode condition, reflecting current positive market sentiment. The first key support to watch lies at 145.06, the 20-day EMA.