Free Trial

Trend Needle Still Points North

USDJPY TECHS
  • RES 4: 138.56 1.618 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 137.30 1.50 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 2: 136.04 1.382 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 1: 135.59 High Jun 15
  • PRICE: 135.05 @ 06:41 BST Jun 21
  • SUP 1: 132.29/131.50 20-day EMA / Low Jun 16 and key support
  • SUP 2: 130.43 Low Jun Low Jun 6
  • SUP 3: 130.00 Round number support
  • SUP 4: 129.29 50-day EMA

The USDJPY uptrend remains intact. The recovery from 131.50, Thursday’s low is a positive development and suggests the recent correction is over. The 135.00 handle remains exposed and a resumption of strength would set the scene for a climb towards 136.04, a Fibonacci projection. Initial firm support is seen at 131.50, just below the 20-day EMA. A break is required to signal a short-term top.

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.