MNI China Daily Summary: Wednesday, November 27

MNI: GERMANY GFK DECEMBER CONSUMER CLIMATE -23.3

MNI BRIEF: BOJ’s JGB Unrealised Loss Rises To JPY13.7 Tlrn

RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI BRIEF: China Profits Fall In October Y/Y

MNI: FRANCE NOV CONSUMER SENTIMENT 90

RBNZ SEES RISK OF MID-TERM INFLATION VOLATILITY

MNI: RBNZ CUTS OCR 50BP TO 4.25%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

Price Signal Summary - USDJPY Trend Condition Remains Bullish

OUTLOOK
  • In FX, a bull theme in EURUSD remains intact and yesterday’s gains are a positive development. A continuation higher would signal scope for a test of key short-term resistance at 1.0981, the Mar 8 high and bull trigger. Clearance of this level would confirm a resumption of the bull cycle that started Feb 14. Key short-term support has been defined at 1.0835, the Mar 19 low. A break would be bearish.
  • GBPUSD traded higher yesterday, extending the bounce from Tuesday’s low. The recent move down from 1.2894, Mar 8 high, appears to be a correction, and the bull trend remains intact. The pair has found support just below the 50-day EMA - at 1.2690 - and this average remains an important support. A break would expose 1.2600, the Mar 1 low. Key resistance and the bull trigger is at 1.2894, the Mar 8 high.
  • USDJPY bulls remain in the driver’s seat and this week’s gains reinforce current conditions. Price has breached key S/T resistance at 150.89, the Feb 13 high, to confirm a resumption of the uptrend. Sights are on 151.91 and 151.95, the Nov 13 high and Oct 1 ‘22 highs respectively. Clearance of this resistance would confirm a resumption of the long-term uptrend and open 152.66, the 1.236 projection of the Feb 1 - 13 - Mar 8 price swing. Initial firm support is 149.27, 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.