MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Key Support Zone Stays Intact

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 160.17 High Apr 29 and the bull trigger
  • RES 3: 158.12 76.4% retracement of the Apr 29 - May 3 sell-off
  • RES 2: 157.99 High May 1
  • RES 1: 156.48/157.71 High Jun 5 / High May 29 and a key resistance
  • PRICE: 155.89 @ 06:45 BST Jun 6
  • SUP 1: 154.72/55 50-day EMA / Low Jun 4
  • SUP 2: 154.05 Trendline support drawn from the Dec 28 low
  • SUP 3: 151.86 Low May 3 and a pivot level
  • SUP 4: 150.81 Low Apr 5

The trend outlook in USDJPY is bullish and the Wednesday rally signals the end of the recent corrective pullback. The move higher means that for now, the key support zone, between 154.72, the 50-day EMA, and 154.05, a trendline drawn from the Dec 28 low, remains in place. A clear break of this key zone would be bearish and highlight a stronger reversal. For bulls, a move above 157.71, the May 29 high, would resume a short-term uptrend.

157 words

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.
  • RES 4: 160.17 High Apr 29 and the bull trigger
  • RES 3: 158.12 76.4% retracement of the Apr 29 - May 3 sell-off
  • RES 2: 157.99 High May 1
  • RES 1: 156.48/157.71 High Jun 5 / High May 29 and a key resistance
  • PRICE: 155.89 @ 06:45 BST Jun 6
  • SUP 1: 154.72/55 50-day EMA / Low Jun 4
  • SUP 2: 154.05 Trendline support drawn from the Dec 28 low
  • SUP 3: 151.86 Low May 3 and a pivot level
  • SUP 4: 150.81 Low Apr 5

The trend outlook in USDJPY is bullish and the Wednesday rally signals the end of the recent corrective pullback. The move higher means that for now, the key support zone, between 154.72, the 50-day EMA, and 154.05, a trendline drawn from the Dec 28 low, remains in place. A clear break of this key zone would be bearish and highlight a stronger reversal. For bulls, a move above 157.71, the May 29 high, would resume a short-term uptrend.