MNI BRIEF: Canada PM Carney Derides Trump's 51st State Idea

MNI BRIEF: Carney Sworn In As PM, Names Champagne To Finance

MNI BRIEF: Olli Rehn Gets Second Term As Bank Of Finland Head

MNI China Daily Summary: Friday, March 14

MNI BRIEF: China February M2 Stays At 7% Y/Y

RPT-MNI INTERVIEW2: Lag Justifies Faster CNB Easing - Holub

BAKER HUGHES CANADA RIG COUNT 199; OIL RIGS 139; GAS RIGS 60

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 487; GAS RIGS 100

EZ/UK T-Bill Calendar: DE, NL and FR Due Monday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OUTLOOK: Price Signal Summary - Monitoring Pivot Resistance In USDJPY

OUTLOOK
CEEMEABulletUKMarketsFixed Income BulletsForeign Exchange Bullets
  • In FX, a short-term bull theme in EURUSD remains intact for now. Attention is on the candle formation on Feb 3 - a hammer - that signals a possible reversal. However, additional reinforcing price evidence is required to signal a turn in the trend. MA studies remain in a bear-mode position, highlighting a dominant downtrend. 1.0427, the 50-day EMA, marks a key resistance. A clear break of it would be a bullish development. The bear trigger is 1.0141, the Feb 3 low.
  • GBPUSD found support Tuesday but for now, continues to trade below its Feb 5 high. Price recently traded above the 20- and 50-day EMAs, and pierced 1.2523, the Jan 27 high. A resumption of gains would signal scope for a move towards 1.2610, 38.2% of the Sep 26 ‘24 - Jan 13 bear leg. Key short-term support to watch has been defined at 1.2249, the Feb 3 low. Clearance of this level would instead highlight a reversal and strengthen a bearish threat.
  • USDJPY is trading higher today as it extends the recovery from the Feb 7 low. For now, the move higher appears to be a correction and this is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. A clear breach of this average would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. A break would open 155.89, the Feb 3 high. The key support and bear trigger is at 150.93, the Feb 7 low.
249 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, a short-term bull theme in EURUSD remains intact for now. Attention is on the candle formation on Feb 3 - a hammer - that signals a possible reversal. However, additional reinforcing price evidence is required to signal a turn in the trend. MA studies remain in a bear-mode position, highlighting a dominant downtrend. 1.0427, the 50-day EMA, marks a key resistance. A clear break of it would be a bullish development. The bear trigger is 1.0141, the Feb 3 low.
  • GBPUSD found support Tuesday but for now, continues to trade below its Feb 5 high. Price recently traded above the 20- and 50-day EMAs, and pierced 1.2523, the Jan 27 high. A resumption of gains would signal scope for a move towards 1.2610, 38.2% of the Sep 26 ‘24 - Jan 13 bear leg. Key short-term support to watch has been defined at 1.2249, the Feb 3 low. Clearance of this level would instead highlight a reversal and strengthen a bearish threat.
  • USDJPY is trading higher today as it extends the recovery from the Feb 7 low. For now, the move higher appears to be a correction and this is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. A clear breach of this average would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. A break would open 155.89, the Feb 3 high. The key support and bear trigger is at 150.93, the Feb 7 low.