MNI BRIEF: PBOC Increases Gold Reserves

MNI BRIEF: Japan Q3 GDP Revised Up On Net Exports, Capex

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

MNI China Daily Summary: Friday, December 6

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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 Trend Direction Remains Down

OUTLOOK
  • In FX, EURUSD maintains a firmer tone despite Wednesday's move lower. Price has this week breached resistance at 1.0930, Mar 23 high. This level marked a key short-term hurdle for bulls and the clear break reinstates the recent bull theme and signals scope for 1.1033, the Feb 2 high. Support to watch lies at 1.0802 (20-day EMA) and 1.0730 (50-day EMA). A move through this support zone would be bearish.
  • GBPUSD maintains a bullish tone. The pair has this week breached key resistance at 1.2448, the Jan 23 high and the top of a broad range that started December 14 2022. The break represents an important short and medium-term development and signals the next stage of the uptrend that started Sep 26 last year. The focus is on 1.2603 next, the top of a MA envelope study. Support to watch lies at 1.2279, the 20-day EMA.
  • The trend direction in USDJPY remains down and this week’s move lower reinforces this theme. Resistance at the 50-day EMA has recently been tested, it intersects at 133.17 and represents a key S/T hurdle for bulls. A clear break would suggest scope for a stronger recovery. This would open 134.75, 61.8% of the Mar 8 - 24 bear leg. The bear trigger is at 129.64, Mar 24 low. A break would resume the downtrend.
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.