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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

Uptrend Accelerating

USDJPY TECHS
  • RES 4: 106.05 1.50 proj of the Jan 6 - 11 rally from the Jan 21 low
  • RES 3: 105.68 High Nov 11 and a key resistance
  • RES 2: 105.16 High Nov 13
  • RES 1: 104.94 High Jan 29
  • PRICE: 104.68 @ 16:46 GMT Jan 29
  • SUP 1: 104.40 High Jan 11 and recent breakout level
  • SUP 2: 103.88 Former channel top drawn off the Mar 2020 high
  • SUP 3: 103.33 Low Jan 21
  • SUP 4: 103.28/02 61.8% and 76.4 % of the Jan 6 - 11 rally

USDJPY continues to push higher. The pair Wednesday confirmed a clear break of a bear channel resistance drawn off the Mar 2020 high. Resistance at 104.40 gave way Thursday, confirming a resumption of the uptrend that started Jan 6 and this reinforces the significance of the channel breakout. It also signals an important shift in sentiment. The focus is on 105.68 next, Nov 11 high. Initial support is at 104.40.