MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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 Points North

OUTLOOK
  • In FX, the uptrend in EURUSD remains intact and the pair continues to trade above 1.0898, the 20-day EMA. The recent breach of 1.1033, Feb 2 high, reinforces bullish conditions and maintains the trend sequence of higher highs and higher lows. The bull trigger is 1.1076, Apr 14 high. The focus is on 1.1127, the 1.00 projection of the Mar 15 - 23 - 24 price swing and 1.1185, Mar 31 2022 high. On the downside, a break of the 20-day EMA would signal scope for a deeper retracement.
  • GBPUSD remains in an uptrend and the recent pullback appears to be a correction. The pair has pierced support at 1.2376 the 20-day EMA. A clear break of this average is required to signal scope for a deeper correction. On the upside, a resumption of gains would refocus attention on last week’s 1.2546 high where a break would resume the uptrend and open 1.2599, Jun 7 2022 high. Support below the 20-day EMA lies at 1.2345, the Apr 10 low.
  • The current short-term uptrend in USDJPY remains intact and the pair traded higher Wednesday. Resistance at 134.75, 61.8% of the Mar 8 - 24 bear leg, has been breached. This strengthens the current bullish theme and signals scope for an extension towards 135.96 next, the 76.4% retracement. On the downside, initial firm support lies at 133.23, the 20-day EMA. Key short-term support is at 132.02, the Apr 13 low. A break of this level would be bearish.
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.