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Trend Needle Points South


Fed Terminal Up To 5.06% in June 2023


Heading North


Late Dec/Mar Tsy Roll Level Update

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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
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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