Free Trial

Fresh 2021 High

USDJPY TECHS
  • RES 4: 111.30 High Mar 26
  • RES 3: 110.63 0.764 proj of Mar - Apr 2020 rally from Jan 6 low
  • RES 2: 110.00 Round number resistance
  • RES 1: 109.85 High Jun 5, 2020
  • PRICE: 109.76 @ 12:50 GMT Mar 26
  • SUP 1: 109.13 Intraday low
  • SUP 2: 108.41 Low Mar 23 and key near-term support
  • SUP 3: 108.18 20-day EMA
  • SUP 4: 106.97 Low Mar 4

USDJPY has rallied to a fresh 2021 high today. The move above 109.36, Mar 15 high confirms a resumption of the uptrend and note that 109.56 has been breached, a key retracement - 76.4% of Mar 2020 - Jan downleg. Attention turns to the 110.00 handle and above with scope for 110.63, a Fibonacci projection. Overbought conditions are still not impacting this trend and instead continues to reinforce current sentiment. 108.41 is key S/T support.

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.