MNI: US OCT FINAL MANUF PMI 48.5 (FLASH: 47.8); SEP 47.3

MNI: BLS: NET REVISIONS TO SEPT, AUG PAYROLLS -112K

MNI: UK OCT FINAL MANUF PMI 49.9 (FLASH: 50.3); SEP 51.5

MNI China Daily Summary: Friday, November 1

MNI: PBOC Net Drains CNY275.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1135 Fri; +2.83% Y/Y

MNI: US SEP CONSTRUCT SPENDING +0.1%

MNI: US ISM OCT MANUF PURCHASING MANAGERS INDEX 46.5

EZ/UK Bond Supply Calendar: EU-Bond Auction on Monday

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

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

Price Signal Summary - USDJPY Support Around The 20-Day EMA Remains Intact

OUTLOOK
  • In FX, EURUSD remains below its Feb 22 high. The pair has pierced resistance around the 50-day EMA - at 1.0834. A clear break of this average would highlight a stronger reversal. 1.0888, the Feb 22 high, is also seen as a key resistance. A breach would open 1.0932, Jan 24 high. Note that the price pattern on Feb 22 is a shooting star candle and a possible reversal signal. A stronger move lower would expose 1.0695, Feb 14 low.
  • A broader bear threat in GBPUSD remains present and the latest pullback reinforces this theme. A stronger reversal lower would refocus attention on key support and the bear trigger at 1.2519, the Feb 5 low. Clearance of this level would open 1.2500, the Dec 13 low, and 1.2432,50.0% of the Oct 4 - Dec 28 bull phase. For bulls resistance levels to watch are unchanged at 1.2775, the Jan 25 high and 1.2827, the Dec 28 high and key bull trigger.
  • The USDJPY trend outlook remains bullish and yesterday’s sell-off appears to have been a correction. The pair pierced support at 149.66, the 20-day EMA. A clear break of this average is required to signal potential for a deeper retracement, potentially towards the 50-day EMA, at 148.28. For bulls, a resumption of the trend would open 151.91/95, the Nov 13 ‘23 high and the Oct 1 ‘22 high and major resistance. The bull trigger is 150.89, Feb 13 high.
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.