MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

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 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 - USDJPY Bulls Remain In The Driver's Seat

OUTLOOK
  • In FX, EURUSD maintains a short-term bearish tone. Last week’s move lower resulted in the break of a trendline drawn from the Nov 1 low, signalling scope for a continuation of the corrective cycle. Note that price action since Jan 17 appears to be a flag formation - a bearish continuation signal. A resumption of weakness would open 1.0793, 50.0% of the Oct - Dec bull leg. Firm resistance is at 1.0998, Jan 5 high. A break would signal a reversal. Initial resistance is at 1.0932, the 20-day EMA.
  • GBPUSD traded lower last week but has managed to recover from 1.2597, the Jan 17 low. The pair has recently pierced key short-term support at 1.2611, the Jan 2 low and traded through the 50-day EMA, at 1.2624. A clear breach of both support points would highlight a short-term top and signal scope for a deeper retracement, opening 1.2500, the Dec 13 low. Key resistance is 1.2827, the Dec 28 high. A break would resume the uptrend.
  • USDJPY maintains a bullish tone and last week’s gains reinforce current conditions. Resistance at 146.41, the Jan 11 high, has recently been cleared, confirming a resumption of the bull cycle. The move higher opens 149.16 next, 76.4% of the Nov 13 - Dec 28 bull leg. On the downside, a key short-term support has been defined at 144.36, the Jan 12 low. Clearance of this level is required to signal a top. Initial support lies at 147.08, the Jan 17 low.
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.