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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.
JPY
- The USDJPY rally has built momentum in recent trade, making light work of both 151.00 and 151.49 Fibonacci resistance, and now pressing towards the 152 mark which is the next psychological target.
- Fundamentally, the pair continues to be underpinned on Friday following Kyodo reports flagging a Y20trl spending package. The report sees the package subject to cabinet approval as soon as Oct 28th.
- As noted, this week’s break of the 150.00 handle has reinforced bullish technical conditions. The climb maintains the positive price sequence of higher highs and higher lows.
- Note that the trend is in overbought territory, but this is clearly not a concern for bulls at this stage with intervention risks seeming the main obstacle for further strength at this point.
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.
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