Free Trial

USDJPY: Bull trend set to..........>

DOLLAR-YEN TECHS
MNI (London)
DOLLAR-YEN TECHS: USDJPY: Bull trend set to extend:
*RES 4: 109.93 May 30 high
*RES 3: 109.59/62 50.0% retracement of Apr 24-Jun 25 decline / High May 31
*RES 2: 109.02 May 13 low
*RES 1: 108.93/99 38.2% retracement of Apr 24-Jun 25 decline / Intraday high
*PRICE: 108.88 @ 04:53 GMT July 10
*SUP 1: 108.28/40 Low Jul 8 / 100-hma
*SUP 2: 108.20/07 200-hma / 21-dma
*SUP 3: 107.53 Channel resistance now support drawn / Jul 3 low
*SUP 4: 107.10 Low Jun 26
USDJPY bullish outlook is maintained as the current recovery extends. Momentum
studies are rising and a clear price sequence of higher highs and higher lows
has been confirmed. This follows the recent break of channel resistance drawn
off the Apr 24 high. Further gains are favoured with the focus on the May 13 low
at 109.02. A break here would open the 50% Fibonacci level & May 31 high at
109.59/62.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@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.