MNI: WILLIAMS SAYS JOBS DATA CONSISTENT WITH SLOWING ECONOMY

MNI BRIEF: US Aug Jobs Confirm Fed Rate Cut; U-Rate 4.2%

MNI: BLS: NET PAYROLLS REVISIONS FOR JUNE, JULY -86K

MNI: BLS: NET PAYROLLS REVISIONS FOR JUNE, JULY -86K

MNI China Daily Summary: Friday, September 6

MNI BRIEF: China To Address Consumption In Next Five-year Plan

US AUG AVERAGE HOURLY EARNINGS +0.4% Vs JUL +0.2%; +3.8% YOY

MNI: US AUG NONFARM PAYROLLS +142K; PRIVATE +118K, GOVT +24K

US AUG UNEMPLOYMENT RATE 4.2%

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

Price Signal Summary - USDJPY Bounce Appears To Be A Correction

OUTLOOK
  • In FX, EURUSD maintains a softer tone and the pair is trading just above its recent lows. Price has pierced support at the 50-day EMA - at 1.0774. A clear break of this EMA would strengthen a bearish theme and open 1.0693, the Nov 14 low. On the upside, a strong reversal higher is required to refocus attention on key resistance and the bull trigger at 1.1017. Initial resistance is at 1.0826, the 20-day EMA.
  • The trend direction in GBPUSD remains up and the recent pullback appears to be a correction. MA studies remain in a bull-mode set-up, highlighting a rising trend. Initial firm support to watch is 1.2536, the 20-day EMA. It has been pierced, a clear break would signal scope for a deeper pullback towards 1.2446, the 50-day EMA. Key resistance has been defined at 1.2733, the Nov 29 high. A break would resume the uptrend and open 1.2800. A break would open 1.2800.
  • USDJPY maintains a softer tone despite the latest recovery - a correction. Last week’s sell-off resulted in a clear break of the trendline drawn from the Mar 24 low. This strengthens a bearish threat and signals scope for a continuation lower with sights on 140.71 next, 76.4% of the Jul 14 - Nov 13 bull run. 141.71 is the bear trigger, the Dec 7 low. Initial firm resistance is at 147.32, the Dec 7 high.
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.