MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on 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 Points North

OUTLOOK
  • In FX, the trend needle in EURUSD points south and the recovery from last Friday’s low is considered corrective - for now. Last week’s move down resulted in a test of 1.0773, the base of a bull channel drawn from the Mar 15 low. This level represents an important pivot point and a clear break would strengthen bearish conditions and open 1.0733, the Jun 12 low. Initial firm resistance is at 1.0900, the 20-day EMA.
  • GBPUSD trend conditions remain bearish and the pair is trading closer to its recent lows. Last week’s move lower resulted in a break of support at 1.2621, the Aug 14 low. The pair has also breached 1.2591, the Jun 29 low. This confirms a resumption of the downtrend and the end of a recent consolidative phase. The focus is on 1.2521 next, 1.382 projection of the Jul 14 - 24 - 27 price swing. On the upside, firm resistance is unchanged at 1.2711, the 20-day EMA.
  • The uptrend in USDJPY remains intact and Monday’s fresh cycle high reinforces bullish conditions and confirms a resumption of the uptrend. Note that moving average studies remain in a bull mode condition, reflecting current positive market sentiment. The focus is on 147.49, the 2.00 projection of the Jul 14 - 21 - 28 price swing. Support to watch lies at 144.77, the 20-day EMA.
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.