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: Trading At Its Recent Highs

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: 149.55 High Oct 10
  • PRICE: 149.25 @ 06:34 BST Oct 14
  • SUP 1: 146.23 20-day EMA     
  • SUP 2: 143.43/141.65 Low Oct 2 / Low Sep 30 
  • SUP 3: 140.45 Low Sep 18  
  • SUP 4: 139.58 Low Sep 16 and the bear trigger   

USDJPY bulls remain in the driver’s seat and price is trading at recent highs. Recent gains resulted in a break of the 50-day EMA, a bullish development that undermines a recent bearish theme and highlights a stronger reversal. Sights are on 150.76, the 50% retracement for the Jul 3 - Sep 16 bear leg. Initial firm support is 146.23, the 20-day EMA. Clearance of this level would signal a reversal.

146 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: 149.55 High Oct 10
  • PRICE: 149.25 @ 06:34 BST Oct 14
  • SUP 1: 146.23 20-day EMA     
  • SUP 2: 143.43/141.65 Low Oct 2 / Low Sep 30 
  • SUP 3: 140.45 Low Sep 18  
  • SUP 4: 139.58 Low Sep 16 and the bear trigger   

USDJPY bulls remain in the driver’s seat and price is trading at recent highs. Recent gains resulted in a break of the 50-day EMA, a bullish development that undermines a recent bearish theme and highlights a stronger reversal. Sights are on 150.76, the 50% retracement for the Jul 3 - Sep 16 bear leg. Initial firm support is 146.23, the 20-day EMA. Clearance of this level would signal a reversal.