MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

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 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: Fresh Cycle Low

USDJPY TECHS
USForeign Exchange Technical AnalysisGlobalAPACJapanBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 147.72 50-day EMA  
  • RES 3: 147.21 High Sep 3  
  • RES 2: 143.95/145.57 20-day EMA / High Sep 4    
  • RES 1: 141.87 High Sep 13     
  • PRICE: 140.72 @ 06:23 BST Sep 17
  • SUP 1: 139.58 Low Sep 16    
  • 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 bears remain in the driver’s seat and the pair once again traded to a fresh cycle low, Monday. The move down last week resulted in a break of key support and the bear trigger at 141.70, the Aug 5 low. This confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. 140.00 has been breached and sights are on 139.00 next, a Fibonacci projection. Firm resistance is at 143.95, 20-day EMA. 

154 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: 147.72 50-day EMA  
  • RES 3: 147.21 High Sep 3  
  • RES 2: 143.95/145.57 20-day EMA / High Sep 4    
  • RES 1: 141.87 High Sep 13     
  • PRICE: 140.72 @ 06:23 BST Sep 17
  • SUP 1: 139.58 Low Sep 16    
  • 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 bears remain in the driver’s seat and the pair once again traded to a fresh cycle low, Monday. The move down last week resulted in a break of key support and the bear trigger at 141.70, the Aug 5 low. This confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. 140.00 has been breached and sights are on 139.00 next, a Fibonacci projection. Firm resistance is at 143.95, 20-day EMA.