MNI BRIEF: BOJ's FY26 Inflation View Flat; Upside Risk To FY24, 25 Prices

BOJ SEES BIGGER UPSIDE RISKS TO PRICES IN FY2024, 2025

BOJ SEES FY24 REAL GDP +0.6% VS. APR +0.8%

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

MNI: GERMANY JUNE EXPORT PRICES +0.6% Y/Y, +0.3% M/M

MNI DATA TABLE: MNI China Interbank Liquidity Index (Jul) - 1

MNI DATA TABLE: MNI China Interbank Liquidity Index (Jul) - 2

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 Pierces A Key Resistance Zone

OUTLOOK
  • In FX, EURUSD maintains a bearish short-term tone and the pair traded lower yesterday, extending the bear cycle that started on Apr 26. The 50-day EMA, at 1.0889 and a key support, has been breached. This signals scope for an extension lower towards 1.0805 next, 50.0% retracement of the Mar 15 - Apr 26 bull run. A break of this price level would open 1.0788, the Apr 3 low. Initial firm resistance is at 1.0889, the 50-day EMA.
  • A short-term corrective cycle in GBPUSD remains in play. Yesterday’s low print reinforces the short-term bearish theme. The focus is on the 50-day EMA which intersects at 1.2407 - a key short-term support. A clear break of this average would strengthen bearish conditions and open 1.2345, the Apr 10 low. Initial resistance is at 1.2547, the May 16 high.
  • USDJPY maintains a bullish tone and Wednesday’s gains reinforce current conditions. The pair has today pierced resistance at 137.77, the May 2 high and 137.91, the Mar 8 high. A clear break of this resistance zone would strengthen bullish conditions and confirm a resumption of the uptrend that started on Jan 16. This would open 138.17, the Dec 15 high. Initial firm support is seen at 135.22, the 20-day EMA.
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.