MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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 Remains Above Support

OUTLOOK
  • In FX, recent weakness in EURUSD remains above Thursday’s low of 1.0788. Recent weakness appears to be a correction and potentially a bull flag formation. A recent bear channel breakout, drawn from the Dec 28 high, and a bullish set-up in moving average studies, highlight an uptrend. A resumption of gains would open 1.0933 next, 61.8% of the Dec 28 - Apr 16 bear leg. Support to watch is at 1.0783, 38.2% retracement of the Apr 16 - May 16 rally.
  • The trend condition in GBPUSD remains bullish and the pair is trading above initial support while spot remains above Thursday’s low. A resumption of gains would open 1.2803, the Mar 21 high and 1.2859, a 1.236 projection of the Apr 22 - May 3 - 9 price swing. Key support levels to watch are 1.2664, the 20-day EMA and 1.2622, the 50-day EMA.
  • A bull cycle in USDJPY remains in play and Thursday’s pullback appears to be a correction. Resistance at 156.74, the May 14 high and 157.00, 61.8% of the Apr 29 - May 3 sell-off, have recently been breached. A continuation higher would open 157.99, the May 1 high. For bears, a stronger reversal would again refocus attention on key support at 154.49, the 50-day EMA, and 153.57, a trendline drawn from the Dec 28 low.
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.