FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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: Clears Resistance At The 50-Day EMA

USDJPY TECHS
USForeign Exchange Technical AnalysisGlobalAPACJapanBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 153.40 61.8% retracement of the Jul 3 - Sep 16 bear leg 
  • RES 3: 151.94 Low Jul 25  
  • RES 2: 150.76 50.0% retracement of the Jul 3 - Sep 16 bear leg  
  • RES 1: 149.39 High Aug 15 and a reversal trigger      
  • PRICE: 148.70 @ 14:01 BST Oct 4
  • SUP 1: 145.92/144.18 Low Oct 4 / 20-day EMA     
  • SUP 2: 141.65 Low Sep 30 
  • SUP 3: 140.45 Low Sep 18  
  • SUP 4: 139.58 Low Sep 16 and the bear trigger   

USDJPY is trading higher today, as the pair extends the rally that started Sep 16. This week’s gains have resulted in a break of the 50-day EMA, at 146.22. This undermines a bearish theme and highlights a stronger reversal instead. Sights are on 149.39, the Aug 15 high. Clearance of this level would strengthen the bullish theme. Initial firm support is 144.18, the 20-day EMA. A break of the average is required to signal a reversal.

157 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: 153.40 61.8% retracement of the Jul 3 - Sep 16 bear leg 
  • RES 3: 151.94 Low Jul 25  
  • RES 2: 150.76 50.0% retracement of the Jul 3 - Sep 16 bear leg  
  • RES 1: 149.39 High Aug 15 and a reversal trigger      
  • PRICE: 148.70 @ 14:01 BST Oct 4
  • SUP 1: 145.92/144.18 Low Oct 4 / 20-day EMA     
  • SUP 2: 141.65 Low Sep 30 
  • SUP 3: 140.45 Low Sep 18  
  • SUP 4: 139.58 Low Sep 16 and the bear trigger   

USDJPY is trading higher today, as the pair extends the rally that started Sep 16. This week’s gains have resulted in a break of the 50-day EMA, at 146.22. This undermines a bearish theme and highlights a stronger reversal instead. Sights are on 149.39, the Aug 15 high. Clearance of this level would strengthen the bullish theme. Initial firm support is 144.18, the 20-day EMA. A break of the average is required to signal a reversal.