BOC: FULL US TARIFFS WOULD BE HIGHLY DISRUPTIVE TO CANADA

BOC DISCUSSED BOTH A 25BP AND A 50BP CUT AS OPTIONS

BOC'S MACKLEM SAYS HE'S A FAN OF FISCAL GUARDRAILS

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

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: Trend Needle Points South

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: 145.57 High Sep 4    
  • RES 1: 143.66/95 20-day EMA / High Sep 19     
  • PRICE: 142.29 @ 06:32 BST Sep 20
  • SUP 1: 139.58 Low Sep 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 is trading above its most recent low, however, short-term gains are considered corrective. Bears remain in the driver’s seat and the pair has once again traded to a fresh cycle low this week. The recent breach of key support at 141.70, the Aug 5 low, confirms a resumption of the downtrend. Sights are on 139.00 next, a Fibonacci projection. Firm resistance is 143.56, the 20-day EMA. It has been pierced, but remains intact for now.

155 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: 145.57 High Sep 4    
  • RES 1: 143.66/95 20-day EMA / High Sep 19     
  • PRICE: 142.29 @ 06:32 BST Sep 20
  • SUP 1: 139.58 Low Sep 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 is trading above its most recent low, however, short-term gains are considered corrective. Bears remain in the driver’s seat and the pair has once again traded to a fresh cycle low this week. The recent breach of key support at 141.70, the Aug 5 low, confirms a resumption of the downtrend. Sights are on 139.00 next, a Fibonacci projection. Firm resistance is 143.56, the 20-day EMA. It has been pierced, but remains intact for now.