FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 is in consolidation mode. A bear cycle remains in play and price is trading closer to recent lows. The break on Apr 12 of key support at 1.0695, the Feb 14 low and bear trigger, confirmed a resumption of the downtrend. This signals scope for a move towards 1.0568 next, the Nov 2 2023 low, and 1.0543, the base of a bear channel drawn from the Dec 28 high. Initial firm resistance is seen at 1.0732, the 20-day EMA.
  • The trend condition in GBPUSD remains bearish and last week’s extension plus Monday’s move lower, reinforces current conditions. Moving average studies are in a bear-mode set-up and the break lower in price maintains the downward price sequence of lower lows and lower highs, reinforcing a bearish theme. Sights are on 1.2266, the Nov 14 2023 low. Initial firm resistance is seen at 1.2524, the 20-day EMA.
  • The USDJPY trend condition remains bullish and the pair traded to a fresh cycle high yesterday of 154.85. Note that moving average studies remain in a bull mode position and this set-up continues to highlight a clear rising trend. The trend is overbought, however, this is clearly not a concern for bulls at this stage. Sights are on the 155.00 handle next. On the downside, support lies at 152.95, the 20-day EMA.
Homepagemarkets-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.