Free Trial

Still Pointing Higher

USDJPY TECHS
  • RES 4: 107.05 High Aug 13, 2020
  • RES 3: 106.95 High Aug 28, 2020
  • RES 2: 106.81 1.0% 10-dma envelope
  • RES 1: 106.69 High Feb 26
  • PRICE: 106.65 @ 16:56 GMT Feb 26
  • SUP 1: 104.92 Low Feb 23
  • SUP 2: 104.74 Trendline drawn off the Jan 6 low / Low Feb 10
  • SUP 3: 104.41 Low Feb 10
  • SUP 4: 104.07 Low Jan 28

USDJPY maintains a bullish tone and the recent pullback has been confirmed as a correction. The Feb 16 climb resulted in a break of resistance at 105.77, Feb 5 high. This confirms a resumption of the uptrend that started Jan 6 and reinforces the significance of the recent key technical break - the breach on Jan 27 of the bear channel resistance drawn off the Mar 2020 high. The focus is on 106.95 next, the Aug 28 2020 high.

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.