CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

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

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

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

MNI: CANADA JUN INDUSTRIAL PRICES +0.0% MOM; EX-ENERGY +0.1%

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 Uptrend Extends

OUTLOOK
  • In FX, EURUSD traded sharply lower Friday, extending the pullback from last Thursday’s high of 1.1012. The move down is considered corrective - for now. Attention is on 1.0842, the 50-day EMA. A clear break of this average would strengthen a bearish threat and signal scope for a deeper pullback, opening 1.0804, the Jun 15 low and 1.0733, the Jun 12 low. Key resistance and the bull trigger is at 1.1012.
  • The primary uptrend in GBPUSD remains intact. Last week’s pullback appears to be a correction and the move lower is allowing a recent overbought condition to unwind. Support to watch lies at 1.2633, the 20-day EMA. The recent break of 1.2680, the May 10 high and a bull trigger, strengthens a bullish condition and opens 1.2849 next, the 0.618 projection of the Mar 8 - May 10 - May 25 price swing. A break would confirm a resumption of the uptrend.
  • USDJPY resumed its uptrend again Friday. The break higher retains the bullish technical short-term outlook, with 144.40 the next upside level, the 1.382 projection of the Jan 16 - Mar 8 - Mar 24 price swing. Price has also added to gains on the recent breach of the top of a bull channel, at 141.75, drawn from the Jan 16 high. Note that moving average studies remain in a bull-mode position, highlighting an uptrend. Key short-term support is at 140.64 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.