FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Resistance Remains Intact, For Now

USDJPY TECHS
  • RES 4: 149.16 76.4% retracement of the Nov 13 - Dec 28 bull leg
  • RES 3: 147.32 High Dec 7
  • RES 2: 146.59 High Dec 11
  • RES 1: 145.97 High Jan 05 and short-term bull trigger
  • PRICE: 145.45 @ 15:08 GMT Jan 10
  • SUP 1: 142.86 Low Jan 4
  • SUP 2: 141.86 Low Jan 3
  • SUP 3: 140.25 Low Dec 28 and the bear trigger
  • SUP 4: 139.11 2.236 proj of the Nov 13 - 21 - 22 price swing

USDJPY is firmer but continues to trade below last Friday’s high for now. Trend signals remain bearish and the recent impulsive rally appears to be a correction. A resumption of weakness would refocus attention on 140.25, the Dec 28 low. On the upside, resistance to watch is 145.97, the Jan 5 high. A break of this level would be a bullish development. This would instead signal scope for a climb towards 147.32, the Dec 7 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign 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.