MNI BRIEF: BOI Sees "Modest" Q2 EZ Growth Driven By Services

MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 584; OIL RIGS 478; GAS RIGS 100

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.10B BSL

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Price Signal Summary - USDJPY Trend Needle Continues To Point North

OUTLOOK
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In FX, EURUSD has started this week’s session on a firmer note. Note that the trend outlook is bearish and gains are considered corrective - for now. MA studies are in a bear-mode set-up highlighting a downtrend. However, resistance to watch is 1.0772, the 50-day EMA. It has been pierced, a clear would threaten the bearish theme and signal scope for a stronger recovery towards 1.0820, 61.8% of the Jun 4 - 26 downleg. The bear trigger lies at 1.0666, Jun 26 low.
  • A bearish theme in GBPUSD remains in play and the pair continues to trade closer to its recent lows. Key support at 1.2669, the 50-day EMA, has been cleared, signalling scope for a deeper correction towards 1.2584, the May 15 low. For bulls, a reversal higher and a break of 1.2860, the Jun 12 high, would resume the uptrend. Initial firm resistance to watch is 1.2740, the Jun 19 high.
  • The trend in USDJPY is unchanged, it remains bullish and the pair is holding on to its recent gains. Last week’s climb resulted in a breach of key resistance at 160.17, the Apr 29 high. The break confirmed a resumption of the primary uptrend and has opened 161.50, the 1.618 projection of the May 3 - 14 - 16 price swing. Note that moving average studies are in a bull mode position, highlighting a clear uptrend. Initial key support to watch is 158.55, the 20-day EMA.
239 words

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.
  • In FX, EURUSD has started this week’s session on a firmer note. Note that the trend outlook is bearish and gains are considered corrective - for now. MA studies are in a bear-mode set-up highlighting a downtrend. However, resistance to watch is 1.0772, the 50-day EMA. It has been pierced, a clear would threaten the bearish theme and signal scope for a stronger recovery towards 1.0820, 61.8% of the Jun 4 - 26 downleg. The bear trigger lies at 1.0666, Jun 26 low.
  • A bearish theme in GBPUSD remains in play and the pair continues to trade closer to its recent lows. Key support at 1.2669, the 50-day EMA, has been cleared, signalling scope for a deeper correction towards 1.2584, the May 15 low. For bulls, a reversal higher and a break of 1.2860, the Jun 12 high, would resume the uptrend. Initial firm resistance to watch is 1.2740, the Jun 19 high.
  • The trend in USDJPY is unchanged, it remains bullish and the pair is holding on to its recent gains. Last week’s climb resulted in a breach of key resistance at 160.17, the Apr 29 high. The break confirmed a resumption of the primary uptrend and has opened 161.50, the 1.618 projection of the May 3 - 14 - 16 price swing. Note that moving average studies are in a bull mode position, highlighting a clear uptrend. Initial key support to watch is 158.55, the 20-day EMA.