Free Trial

Firmer But Remains Below Resistance

USDJPY TECHS
  • RES 4: 106.11 High Oct 7
  • RES 3: 105.68 High Nov 11 and the bull trigger
  • RES 2: 105.20 76.4% retracement of the Nov 11 - 18 sell-off
  • RES 1: 104.76 High Nov 4 and key S/T resistance
  • PRICE: 104.44 @ 06:06 GMT Dec 10
  • SUP 1: 103.65 Low Nov 18
  • SUP 2: 103.18/09 Low Nov 6 / Low Mar 12 and key support
  • SUP 3: 102.75 1.00 proj of Oct 7 - Nov 6 downleg from Nov 11 high
  • SUP 4: 102.02 Low Mar 10

USDJPY is trading higher but remains below resistance. Recent price action has defined 103.65, Nov 18 low and 104.76, Nov 4 high as key S/T directional triggers. Clearance of 103.65 would signal scope for deeper losses and expose the bear trigger at 103.18, Nov 6 low. Recent attention has been on the Nov 9 price action, a bullish engulfing candle that signals a reversal. Gains above 104.76, Nov 4 high would refocus attention on 105.68.

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.