Free Trial

USDJPY TECHS: Fresh Cycle High

USDJPY TECHS
  • RES 4: 163.362.00 proj of the May 3 - 14 - 16 price swing      
  • RES 3: 162.27 1.764 proj of the May 3 - 14 - 16 price swing
  • RES 2: 161.50 1.618 proj of the May 3 - 14 - 16 price swing
  • RES 1: 161.27 High Jun 28
  • PRICE: 160.89 @ 16:26 BST Jun 28
  • SUP 1: 159.62/158.30 Low Jun 26 / 20-day EMA  
  • SUP 2: 156.96 Trendline support drawn from Dec 28 low  
  • SUP 3: 156.49 /154.55 50-day EMA / Low Jun 4 
  • SUP 4: 153.60 Low May 16

The trend in USDJPY is unchanged, it remains bullish and the pair has traded higher again Friday. This week’s gains have resulted in a breach of key resistance at 160.17, the Apr 29 high. The break confirms a resumption of the primary uptrend and opens 161.50, a Fibonacci projection. Note that moving average studies are in a bull mode position, highlighting a clear uptrend. Initial key support to watch is 158.30, the 20-day EMA.  

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.