MNI BRIEF: Trade War To Increase Volatility Inflation -Panetta

MNI China Daily Summary: Friday, November 15

MNI BRIEF:China Optimistic On Property Despite Investment Fall

CORRECTED-MNI INTERVIEW: NBH To Hold Rates

MNI BRIEF: China Oct Retail Sales Surge On Holiday, Trade-ins

CHINA OCT INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.5% Y/Y: NBS

EZ/UK Bond Supply Calendar: EU Synd; SK, BE Auction on Monday

MNI: US SEP BUSINESS INVENTORIES +0.1%; SALES +0.3%

MNI: US OCT INDUSTRIAL PROD -0.3%; CAP UTIL 77.1%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

OUTLOOK: Price Signal Summary - USDJPY Bull Leg Extends

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In FX, EURUSD remains in a clear downtrend and this week’s extension reinforces the current trend condition. Last week, the Nov 6 sell-off highlighted a resumption of the downtrend. Note too that moving average studies are in a bear-mode position, highlighting a dominant bear trend. Sights are on 1.0568 support, the Nov 2 ‘23 low. Key resistance has been defined at 1.0937, the Nov 5 and 6 high. Initial firm resistance is 1.0811, the 20-day EMA.
  • The trend condition in GBPUSD traded sharply lower yesterday, solidifying the downtrend. Tuesday’s move resulted in a breach of support at 1.2834, the Nov 6 low. The clear break confirms a resumption of the downtrend. Moving average studies are in a bear-mode condition, highlighting a dominant downtrend. Sights are on 1.2665, the Aug 8 low. Key short-term resistance is at 1.3048, the Nov 6 high. Initial firm resistance is at 1.2957, the 20-day EMA.
  • The USDJPY trend condition is unchanged and remains bullish. This week’s climb has resulted in a breach of resistance at 154.71, the Nov 11 high, to confirm a resumption of the uptrend and maintain the price sequence of higher highs and higher lows. Sights are on 155.27, a 2.00 projection of the Sep 16 - 27 - 30 price swing. Clearance of this level would open the 156.00 handle. Initial firm support is 152.03, the 20-day EMA.
225 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.
  • In FX, EURUSD remains in a clear downtrend and this week’s extension reinforces the current trend condition. Last week, the Nov 6 sell-off highlighted a resumption of the downtrend. Note too that moving average studies are in a bear-mode position, highlighting a dominant bear trend. Sights are on 1.0568 support, the Nov 2 ‘23 low. Key resistance has been defined at 1.0937, the Nov 5 and 6 high. Initial firm resistance is 1.0811, the 20-day EMA.
  • The trend condition in GBPUSD traded sharply lower yesterday, solidifying the downtrend. Tuesday’s move resulted in a breach of support at 1.2834, the Nov 6 low. The clear break confirms a resumption of the downtrend. Moving average studies are in a bear-mode condition, highlighting a dominant downtrend. Sights are on 1.2665, the Aug 8 low. Key short-term resistance is at 1.3048, the Nov 6 high. Initial firm resistance is at 1.2957, the 20-day EMA.
  • The USDJPY trend condition is unchanged and remains bullish. This week’s climb has resulted in a breach of resistance at 154.71, the Nov 11 high, to confirm a resumption of the uptrend and maintain the price sequence of higher highs and higher lows. Sights are on 155.27, a 2.00 projection of the Sep 16 - 27 - 30 price swing. Clearance of this level would open the 156.00 handle. Initial firm support is 152.03, the 20-day EMA.