MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDJPY TECHS: Bold Bounce

USDJPY TECHS
USForeign Exchange Technical AnalysisGlobalAPACJapanBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 149.39 High Aug 15 and a reversal trigger   
  • RES 3: 148.05 High Sep 19  
  • RES 2: 147.21 High Sep 3  
  • RES 1: 146.18 50-day EMA      
  • PRICE: 146.10 @ 16:17 BST Oct 2
  • SUP 1: 141.65/139.58 Low Sep 30 / 16 and the bear trigger     
  • SUP 2: 139.00 1.382 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 3: 138.30 1.50 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 4: 138.07 Low Jul 28 2023  

USDJPY rallied sharply Wednesday as Japan’s PM talked down the need for imminent BoJ rate hikes, aiding the pair’s rally toward resistance at the 50-day EMA. Further strength here and through 146.48 would close the Takaichi gap, narrowing focus on resistance at the Sep 3 high and 148.13 - the 38.2% retracement for the downleg off the early July high. Any extension lower, however, would open 139.58, the Sep 16 low and bear trigger. 

156 words

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.
  • RES 4: 149.39 High Aug 15 and a reversal trigger   
  • RES 3: 148.05 High Sep 19  
  • RES 2: 147.21 High Sep 3  
  • RES 1: 146.18 50-day EMA      
  • PRICE: 146.10 @ 16:17 BST Oct 2
  • SUP 1: 141.65/139.58 Low Sep 30 / 16 and the bear trigger     
  • SUP 2: 139.00 1.382 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 3: 138.30 1.50 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 4: 138.07 Low Jul 28 2023  

USDJPY rallied sharply Wednesday as Japan’s PM talked down the need for imminent BoJ rate hikes, aiding the pair’s rally toward resistance at the 50-day EMA. Further strength here and through 146.48 would close the Takaichi gap, narrowing focus on resistance at the Sep 3 high and 148.13 - the 38.2% retracement for the downleg off the early July high. Any extension lower, however, would open 139.58, the Sep 16 low and bear trigger.