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MNI: PBOC Net Injects CNY175 Billion via OMOs Thursday

CHINA PBOC INJECTS CNY239 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 6.8886 THURS VS 6.8771

Coming Up In The Asia-Pac Session On Thursday

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US EIA: CRUDE OIL STOCKS EX SPR -7.49M TO 473.7M MAR 24 WK

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Support And Bear Trigger Remains Exposed

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 134.87 50-day EMA
  • RES 3: 134.77/81 High Jan 6 / 23.6% Oct - Jan downleg
  • RES 2: 132.87 High Jan 11
  • RES 1: 131.45/58 20-day EMA / High Jan 18
  • PRICE: 128.49 @ 16:25 GMT Jan 19
  • SUP 1: 127.23 Low Jan 16 and the bear trigger
  • SUP 2: 126.81 1.382 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 3: 126.36 Low May 24 and a key support
  • SUP 4: 125.49 1.50 proj of the Oct 31 - Nov 15 - 21 price swing

USDJPY rallied Wednesday following the BoJ decision. However, the pair stalled at resistance around the 20-day EMA which intersects at 131.45 today. The reversal from the Wednesday high reinforces the current bearish theme and attention is on support at 127.23, the Jan 16 low. A break would confirm a resumption of the downtrend and open 126.81, a Fibonacci projection. Clearance of 131.58, yesterday’s high, would be bullish.

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  • RES 4: 134.87 50-day EMA
  • RES 3: 134.77/81 High Jan 6 / 23.6% Oct - Jan downleg
  • RES 2: 132.87 High Jan 11
  • RES 1: 131.45/58 20-day EMA / High Jan 18
  • PRICE: 128.49 @ 16:25 GMT Jan 19
  • SUP 1: 127.23 Low Jan 16 and the bear trigger
  • SUP 2: 126.81 1.382 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 3: 126.36 Low May 24 and a key support
  • SUP 4: 125.49 1.50 proj of the Oct 31 - Nov 15 - 21 price swing

USDJPY rallied Wednesday following the BoJ decision. However, the pair stalled at resistance around the 20-day EMA which intersects at 131.45 today. The reversal from the Wednesday high reinforces the current bearish theme and attention is on support at 127.23, the Jan 16 low. A break would confirm a resumption of the downtrend and open 126.81, a Fibonacci projection. Clearance of 131.58, yesterday’s high, would be bullish.