Free Trial

Shows Below Support

USDJPY TECHS
  • RES 4: 111.30 High Mar 26, 2020
  • RES 3: 110.97 High Mar 31 and the bull trigger
  • RES 2: 110.55 High Apr 6
  • RES 1: 110.33 High Jun 4
  • PRICE: 109.27 @ 17:00 BST Jun 7
  • SUP 1: 109.19 Low Jun 7
  • SUP 2: 108.56/34 Low May 25 / Low May 7 and key S/T support
  • SUP 3: 107.48 Low Apr 23 and the bear trigger
  • SUP 4: 106.97 Low Mar 4

USDJPY reversed the entirety of the Thursday gains into the Friday close. The pullback extended Monday, showing below initial key short-term support 109.33, Jun 1 low. Nonetheless, the outlook remains bullish. A recovery near-term and importantly a break of 110.33, Jun 4 high would resume the recent recovery and expose the year's high print of 110.97 from Mar 31. Weakness through 109.33 would instead expose 108.56, May 25 low.

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.