MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Price Signal Summary - Corrective Cycle In USDJPY

OUTLOOK
  • In FX, EURUSD traded higher Monday but failed to hold on to its gains. The trend is up, however, yesterday’s price action highlights a possible bearish threat. Monday is a shooting star candle pattern - a reversal signal. If correct, it suggests scope for a deeper short-term retracement that would open 1.0322, the 20-day EMA. Clearance of Monday’s high would cancel this threat and instead resume the uptrend and open 1.0615, the Jun 27 high.
  • GBPUSD trend conditions remain bullish and last week’s gains reinforce this condition - the break higher confirmed a resumption of the uptrend and price has cleared the 200-dma. The focus is on 1.2406, the Jun 16 high. Support to watch lies at 1.1935, the 20-day EMA.
  • The USDJPY trend condition remains bearish, however, the pair has entered a corrective cycle following the recovery from last Friday’s low. This is allowing an oversold trend condition to unwind. An extension higher would open 139.68, the 20-day EMA. This average is seen as the first key short-term resistance. The bear trigger is 133.63, the Dec 2 low. A break would confirm a resumption of the downtrend.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.