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USDCAD TECHS

Needle Still Points South

US TSYS

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AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

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Needle Still Points North

USDJPY TECHS
  • RES 4: 106.55 High Sep 3
  • RES 3: 106.11 High Oct 7, 2020
  • RES 2: 106.05/09 1.50 proj of Jan 6/11/ 21 swing / Upper Boll Band
  • RES 1: 105.77 High Feb 5
  • PRICE: 105.52 @ 06:25 GMT Feb 8
  • SUP 1: 104.98/40 Low Feb 4 / High Jan 11 and recent breakout level
  • SUP 2: 103.67 Former channel top drawn off the Mar 2020 high
  • SUP 3: 103.33 Low Jan 21
  • SUP 4: 103.28/02 61.8% and 76.4 % of the Jan 6 - 11 rally

USDJPY bullish conditions remain intact following last week's gains and recent bullish price developments. On Jan 27, the pair cleared a bear channel resistance drawn off the Mar 2020 high. Resistance at 104.40 gave way on Jan 28, confirming a resumption of the uptrend that started Jan 6. The focus is on 106.05 next, a projection level. Initial support is at 104.98, the Feb 4 low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com