MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

CHINA PBOC CONDUCTS CNY59 BILLION VIA 7-DAY REVERSE REPOS FRI

Asia Sovs Steady, Philippines BoP Swings To Deficit

Japan Jun Core CPI +2.6% Y/Y; Energy Price Up

MNI BRIEF: Japan June Core CPI Rises 2.6% Vs. May +2.5%

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

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

Price Signal Summary - USDJPY Trend Needle Continues To Point South

OUTLOOK
  • In FX, EURUSD traded lower Friday and the pair remains below 1.0930, the Mar 23 high. Price has breached 1.0760, Mar 15 high and attention turns to support at 1.0703 (20-day EMA) and 1.0675 (50-day EMA). A break of this support zone would expose the recent low at 1.0516 on Mar 15. For bulls, clearance of 1.0930 would reinstate the recent bull theme and signal scope for a climb towards 1.1033, the Feb 2 high.
  • GBPUSD maintains a bullish tone despite the pullback from 1.2344, the Mar 23 high. The pair has recently cleared a number of resistance points signalling scope for an extension higher. This has opened 1.2401, the Feb 2 high and 1.2448, the Jan 23 high. The latter is a key medium-term resistance. On the downside, initial firm support lies at 1.2179, the Mar 21 low, ahead of 1.2138, the 20-day EMA and a key short-term chart point.
  • The current downtrend in USDJPY remains intact and the pair traded lower again Friday, reinforcing current conditions. The move down maintains the bearish price sequence of lower lows and lower highs. Price has pierced 129.75, 76.4% of the Jan 16 - Mar 8 rally. A clear break would open 129.12, the Feb 2 low. Firm resistance is seen at the 20-day EMA, at 133.17 where a break is required to ease bearish pressure.
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.