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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.
USDJPY TECHS
- RES 4: 105.16 High Nov 13
- RES 3: 104.95 76.4% retracement of the Nov 11 - Jan 6 downleg
- RES 2: 104.76/84 High Nov 24 / 1.0% 10-dma envelope
- RES 1: 104.57 Intraday high
- PRICE: 104.48 @ 06:09 GMT Jan 29
- SUP 1: 103.88 Former channel top drawn off the Mar 2020 high
- SUP 2: 103.33 Low Jan 21
- SUP 3: 103.28/02 61.8% and 76.4 % of the Jan 6 - 11 rally
- SUP 4: 102.59 Low Jan 6 and the bear trigger
USDJPY is bullish. The pair traded higher Wednesday resulting in a break of a bear channel resistance drawn off the Mar 2020 high. Resistance at 104.40 gave way Thursday, confirming a resumption of the uptrend that started Jan 6 and this reinforces the significance of the channel breakout. It also signals an important shift in sentiment and open levels not seen since November. The focus is on 104.76, Nov 24 low. Support is at 103.88, the former channel top.
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.
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