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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.
JPY
- The Japanese Yen is extending its outperformance on Thursday, leading G10 gains with a 2.5% advance against the greenback. USDJPY has cleared multiple supports throughout the session and most significantly has just broken below the bear trigger at 129.52.
- The combination of hawkish BOJ rhetoric alongside the removal of a US CPI obstacle appears to have confirmed the path of least resistance as lower for the pair.
- With price now trading through the bear trigger on an intraday basis, markets will be watching for a daily close below to confirm a possible head and shoulders pattern drawn from early June 2022.
- Additionally, moving average patterns could add further weight, with the 50- and 200-dmas on the cusp of forming a bearish death cross. Support seen scant until 128.44, the 1.236 proj of the Oct 31 - Nov 15 - 21 price swing.
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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