Free Trial

Price Signal Summary - USDJPY Trend Needle Continues To Point North

OUTLOOK
  • In FX, EURUSD is unchanged. A bullish theme remains intact and price is trading closer to its recent highs, and above the 50-day EMA. The breach of the average undermines a recent bearish theme and signals scope for an extension towards 1.0852, the Jun 12 high. For bears, a resumption of weakness would refocus attention on the key support at 1.0666, the Jun 26 low. Initial support to watch lies at 1.0773, the 20-day EMA.
  • GBPUSD remains in a bull-mode condition and the pair is holding on to the bulk of its recent gains. Last week’s break of resistance at 1.2740, the Jun 19 high, strengthened a bullish theme and signalled scope for a climb towards 1.2860, the Jun 12 high and the next important resistance. Clearance of this level would resume the uptrend that started Apr 22. Key support lies at 1.2613, the Jun 27 low. First support is at 1.2723, the 20-day EMA.
  • USDJPY bulls remain in the driver’s seat and recent weakness is considered corrective. Moving average studies are in a bull mode set-up, highlighting a clear rising trend. The recent breach of 160.17, the Apr 29 high, confirmed a resumption of the primary uptrend and this maintains the sequence of higher highs and higher lows. Sights are on 162.21, the 1.764 projection of the May 3 - 14 - 16 price swing. Support to watch is at the 20-day EMA, at 159.89.
234 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 is unchanged. A bullish theme remains intact and price is trading closer to its recent highs, and above the 50-day EMA. The breach of the average undermines a recent bearish theme and signals scope for an extension towards 1.0852, the Jun 12 high. For bears, a resumption of weakness would refocus attention on the key support at 1.0666, the Jun 26 low. Initial support to watch lies at 1.0773, the 20-day EMA.
  • GBPUSD remains in a bull-mode condition and the pair is holding on to the bulk of its recent gains. Last week’s break of resistance at 1.2740, the Jun 19 high, strengthened a bullish theme and signalled scope for a climb towards 1.2860, the Jun 12 high and the next important resistance. Clearance of this level would resume the uptrend that started Apr 22. Key support lies at 1.2613, the Jun 27 low. First support is at 1.2723, the 20-day EMA.
  • USDJPY bulls remain in the driver’s seat and recent weakness is considered corrective. Moving average studies are in a bull mode set-up, highlighting a clear rising trend. The recent breach of 160.17, the Apr 29 high, confirmed a resumption of the primary uptrend and this maintains the sequence of higher highs and higher lows. Sights are on 162.21, the 1.764 projection of the May 3 - 14 - 16 price swing. Support to watch is at the 20-day EMA, at 159.89.