Free Trial

Off To The Races Again

USDJPY TECHS
  • RES 4: 109.70 High Jun 8, 2020
  • RES 3: 108.54 High Jun 9, 2020
  • RES 2: 108.3441 3.0% Upper Bollinger Band / 2.0% 10-dma envelope
  • RES 1: 108.23 61.8% retracement of the Mar 2020 - Jan downleg
  • PRICE: 108.14 @ 06:21 GMT Mar 5
  • SUP 1: 106.97 Low Mar 4
  • SUP 2: 106.68 Low Mar 2 and 3
  • SUP 3: 106.22 High Feb 17 and recent breakout level
  • SUP 4: 105.85 Low Feb 25/26

The USDJPY outlook remains bullish as the pair continues to climb and yesterday delivered an accelerated move higher. Trend conditions are in overbought territory however this is not having an impact on the trend and sentiment remains clearly bullish. The pair is above 108.00 and is approaching 108.23, a key Fibonacci retracement. A break would open 108.54, Jun 9, 2020 high. Yesterday's 106.97 low is the first support.

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.