Free Trial

Shows Below 50-Day EMA

USDJPY TECHS
  • RES 4: 116.87 High Jan 11, 2017
  • RES 3: 116.09 1.764 proj of Apr 23 - Jul 2 - Aug 4 price swing
  • RES 2: 115.52 High Nov 24
  • RES 1: 114.27 20-day EMA
  • PRICE: 113.41 @ 17:21 GMT Nov 26
  • SUP 1: 113.20 50-day EMA
  • SUP 2: 112.73 Low Nov 9 and a reversal trigger
  • SUP 3: 112.08 High Sep 30 and a recent breakout level
  • SUP 4: 111.32 61.8% retracement of theAug - Nov rally

USDJPY continues to slide, resulting in a break of key short-term support at 113.59, Nov 19 low. The break lower highlights a stronger short-term bearish threat with the pair showing below the 50-day EMA at 113.20. This average represents an area of trend support and a clear break would weigh on the pair and expose 112.73, the Nov 9 low. On the upside, key resistance has this week been defined at 115.52, the Nov 24 high and the bull trigger.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.