Free Trial

Touches New 2021 High

USDJPY TECHS
  • RES 4: 112.23 High Feb 20, 2020 and a key resistance
  • RES 3: 111.71 High Mar 24 and a key resistance
  • RES 2: 111.30/32 High Mar 26, 2020 / 1.0% 10-dma envelope
  • RES 1: 111.12 High Jun 24
  • PRICE: 110.87 @ 16:33 BST Jun 24
  • SUP 1: 109.72 Low June 21
  • SUP 2: 109.40/19 50-day EMA / Low Jun 7
  • SUP 3: 108.56/34 Low May 25 / Low May 7 and key S/T support
  • SUP 4: 107.48 Low Apr 23 and the bear trigger

USDJPY traded higher Thursday and delivered fresh 2021 highs, with a print above Y110.97, Mar 31 high and the previous bull trigger. This cements the uptrend and maintains a bullish price sequence of higher highs and higher lows. Attention is on 111.30/32, the Mar 26, 2020 high and 1.0% 10-dma envelope. Initial key support is unchanged at 109.72, Jun 21 low. A break of this level is required to signal a top.

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.