MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Price Signal Summary - USDJPY Continues To Trade Just Below The Trend High

OUTLOOK
  • In FX, EURUSD trend conditions remain bearish. The reversal lower from 1.0640, the Oct 12 high, suggests the end of the recent corrective cycle. Attention is on 1.0448, the Oct 3 low and a bear trigger. Clearance of this level would confirm a resumption of the downtrend and open 1.0406, 50.0% of the Sep ‘22 - Jul ‘23 bull leg. On the upside, a break of 1.0640, the Oct 12 high, would instead signal scope for a stronger correction.
  • GBPUSD trend conditions remain bearish. The pair is trading below last week’s high and a resumption of weakness would refocus attention on support and the bear trigger at 1.2037, the Oct 4 low. Clearance of this level would confirm a resumption of the downtrend that started in July and open 1.1964, a 3.00 projection of the Jul 14 - 24 - 27 price swing. For bulls, a break of 1.2337, the Oct 11 high, would signal scope for a stronger corrective phase.
  • USDJPY continues to trade closer to its recent highs. The trend outlook remains bullish and yesterday’s short-lived pullback found support at the 20-day EMA. Attention is on the 150.00 handle and the recent 150.16 high (Oct 3). A clear break of 150.00 would reinforce bullish conditions and open 150.40, a 2.618 projection of the Jan 16 - Mar 8 - Mar 24 price swing. On the downside, clearance of 147.43, the Oct 3 low, would be seen as an important bearish development.
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.