Free Trial

Testing Key Resistance

USDJPY TECHS
  • RES 4: 112.40 High Apr 24, 2019
  • RES 3: 112.23 High Feb 20, 2020
  • RES 2: 111.71 High Mar 24, 2020
  • RES 1: 111.66/68 High Jul 2 and a bull trigger / Intraday high
  • PRICE: 111.43 @ 06:27 BST Sep 29
  • SUP 1: 110.45 High Sep 8
  • SUP 2: 109.99/11 50-day EMA / Low Aug 16 and Sep 15
  • SUP 3: 108.72 Low Aug 04 and the bear trigger
  • SUP 4: 108.56 Low May 25

USDJPY continues to strengthen and maintains a firm bullish theme following this week's break of 110.80, Aug 11 high. The move above this hurdle paved the way for a climb towards 111.66, Jul 2 high and bull trigger. Note that 111.66 has been tested and a clear break would confirm a resumption of the broader bull cycle that started Jan 6. Key short-term support is at 109.11, Aug 16 / Sep 15 low. Initial firm support is seen at 109.99, the 50-day EMA.

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.