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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.
USDJPY has been in a bear trend since peaking at 111.71 on Mar 24 following an extremely volatile swing between Feb 20 and Mar 24.
- The 8-month downtrend has established a bear channel that clearly highlights the nature of the move lower over the past 8-months.
- Furthermore, moving average studies, looking at the 20- and 50-day EMAs, are in a bear mode. Price levels above the 50-day EMA represents the sell-zone. The selling pressure that develops once price enters this zone, clearly highlights the dominant bearish sentiment.
- Scope is seen for a move towards the 103.18 key support, Nov 6 low. A break would expose 102.02 ahead of the year low print of 101.19, Mar 9 low. This latter level is a major support.
- Note the bear channel base currently intersects at 100.87 while the top and key resistance is at 105.50. A channel breakout would signal a reversal.
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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