CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Testing Resistance

USDJPY TECHS
  • RES 4: 160.17 High Apr 29 and the bull trigger
  • RES 3: 157.99 High May 1
  • RES 2: 157.00 61.8% retracement of the Apr 29 - May 3 sell-off
  • RES 1: 156.90 Intraday high
  • PRICE: 156.74 @ 06:51 BST May 23
  • SUP 1: 155.42/153.78 20- and 50-day EMA values
  • SUP 2: 152.85 Trendline support drawn from the Dec 28 low
  • SUP 3: 151.86 Low May 3
  • SUP 4: 150.81 Low Apr 5

USDJPY is holding on to its most recent gains. The pair has traded through resistance at 156.74, the May 14 high and attention turns to 157.00, a Fibonacci retracement point. A breach of this level would open 157.99, the May 1 high. For bears, a reversal lower would refocus attention on 153.78, the 50-day EMA, and 152.85, trendline support drawn from the Dec 28 low. Clearance of these two price points would strengthen a bearish threat.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.