Free Trial

Fresh Cycle Highs Once Again

USDJPY TECHS
  • RES 4: 128.15 High May 17 2002
  • RES 3: 127.71 3.764 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • RES 2: 127.16 3.618 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • RES 1: 126.71 3.50 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • PRICE: 126.65 @ 16:32 BST Apr 13
  • SUP 1: 124.77/123.47 Low Apr 12 / Low Apr 6 and 7
  • SUP 2: 122.24 20-day EMA
  • SUP 3: 121.28 Low Mar 31 and a bear trigger
  • SUP 4: 120.00 Round number support

USDJPY maintains its firmer tone and has this morning resumed its uptrend and traded to a fresh cycle high. The pair has also cleared the 126.00 handle. The break higher reinforces underlying bullish conditions and signals potential for a continuation of the uptrend near-term. The trend condition is overbought, however, this is not slowing the trend in any way at this stage. Key trend support has been defined at 121.28, the Mar 31 low.

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.