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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.
CNH
CNH/JPY got hiccups after a failed attack at the top of a bull channel drawn off Jul 31, 2020 low, which took place on May 28. The subsequent move away from the channel top started with the formation of a bearish engulfing candlestick pattern and proceeded alongside the unfolding of a bearish failure swing in the RSI.
- From bearish perspective, a descent past May 19/11 lows of Y16.8704/16.8564 is needed to confirm that downside pressures prevail and to clear the way to next layers of support at Y16.8096 (May 4 low) & Y16.7530 (channel floor).
- Bulls need to force a break above May 18 high of Y17.2870 to regain poise and turn technical focus back to the channel top, which today intersects at Y17.3372.
Fig. 1: CNH/JPY
Source: MNI - Market News/Bloomberg
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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