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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Trend Outlook Remains Bearish
- RES 4: 135.96 76.4% retracement of the Mar 8 - 24 bear leg
- RES 3: 135.11 High Mar 15
- RES 2: 134.75 61.8% retracement of the Mar 8 - 24 bear leg
- RES 1: 133.77 50.0% retracement of the Mar 8 - 24 bear leg
- PRICE: 131.62 @ 20:03 BST Apr 5
- SUP 1: 130.76 Low Mar 29
- SUP 2: 129.64 Low Mar 24 and the bear trigger
- SUP 3: 128.09 Low Feb 2
- SUP 4: 127.23 Low Jan 16 and key support
The trend direction in USDJPY remains down and this week’s move lower reinforces this theme. Resistance at the 50-day EMA has been tested, it intersects at 133.30 and represents a key S/T hurdle for bulls. A clear break would alter the picture and suggest scope for a stronger recovery. This would open 133.77, a Fibonacci retracement. On the downside, the bear trigger is at 129.64, Mar 24 low. A break would confirm a resumption of the downtrend.
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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.