USDJPY TECHS: Northbound
- RES 4: 150.40 2.618 proj of the Jan 16 - Mar 8 - Mar 24 price swing
- RES 3: 150.00 Psychological round number
- RES 2: 149.71 High Oct 24 2022
- RES 1: 149.19 High Sep 26
- PRICE: 149.08 @ 06:28 BST Sep 27
- SUP 1: 147.46/147.02 20-day EMA / Low Sep 13 and 14
- SUP 2: 145.91 Low Sep 11
- SUP 3: 145.40 50-day EMA
- SUP 4: 144.45 Low Sep 1 and key support
The USDJPY trend needle continues to point north and the pair traded to a fresh cycle high Tuesday. The focus is on 149.71 next, the Oct 24 2022 high. Moving average studies remain in a bull mode position, highlighting the market's positive sentiment. Further out, scope is seen for a climb towards the psychological 150.00 handle. On the downside, firm support lies at 145.91, the Sep 11 low.
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USDJPY TECHS: Fresh Cycle High
- RES 4: 148.40 High Nov 4 2022
- RES 3: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
- RES 2: 146.93 High Nov 8 2022
- RES 1: 146.63 High Aug 25 and bull trigger
- PRICE: 146.40 @ 06:21 BST Aug 28
- SUP 1: 144.58 20 EMA
- SUP 2: 143.30 Low Aug 10
- SUP 3: 142.73 50-day EMA
- SUP 4: 141.52 Low Aug 7
The uptrend in USDJPY remains intact and Friday’s fresh cycle high reinforces bullish conditions and confirms a resumption of the uptrend. Note that moving average studies are in a bull mode condition - this set-up continues to highlight an uptrend. The focus is on 147.49, a Fibonacci projection. Support to watch lies at 144.58, the 20-day EMA. A break of this average is required to highlight a short-term top.
LOOK AHEAD: UK Timeline of Key Events
| Date | UK | Period | Event |
| 29-Aug | 0001 | Aug | BRC Monthly Shop Price Index |
| 29-Aug | 1530 | --- | DMO Quarterly Investor/GEMM Consultation Meetings |
| 30-Aug | 0930 | July | BOE M4 / Lending to Individuals |
| 31-Aug | 0730 | --- | DMO to publish Oct-Dec issuance calendar |
| 31-Aug | 0815 | --- | BoE's Pill speaks at SARB conference |
| 1-Sep | 0930 | Aug | S&P Global Manufacturing PMI (Final) |
| 1-Sep | 1100 | --- | BoE's Pill speaks at SARB conference |
| 5-Sep | 0001 | Aug | BRC-KPMG Shop Sales Monitor |
| 5-Sep | 0930 | Aug | S&P Global Services PMI (Final) |
| 6-Sep | 0930 | Aug | IHS Markit/CIPS Construction PMI |
| 6-Sep | 1000 | --- | Gilt Outright Auction Result |
| 7-Sep | 0930 | Aug | BOE DMP Survey |
| 12-Sep | 0700 | Sep | Labour Market Survey |
| 12-Sep | 1000 | --- | Index Linked Gilt Outright Auction Result |
| 13-Sep | 0700 | July | GDP / Serv./Prod. Index / Trade Bal. / Constr. Industry Output |
| 13-Sep | 1000 | --- | Gilt Outright Auction Result |
| 15-Sep | 0930 | Aug | Bank of England/Ipsos Inflation Attitudes Survey |
LOOK AHEAD: Eurozone Timeline of Key Events
| Date | Time | Country | Event |
| 28-Aug | 0900 | EU | M3 |
| 29-Aug | 0700 | DE | GFK Consumer Climate |
| 29-Aug | 0745 | FR | Consumer Sentiment |
| 30-Aug | 0630 | DE | North Rhine Westphalia CPI |
| 30-Aug | 0800 | ES | HICP (p) |
| 30-Aug | 0900 | IT | ISTAT Business / Consumer Confidence |
| 30-Aug | 0900 | DE | Bavaria CPI |
| 30-Aug | 1000 | EU | EZ Economic Sentiment Indicator |
| 30-Aug | 1000 | DE | Saxony CPI |
| 30-Aug | 1300 | DE | HICP (p) |
| 31-Aug | 0700 | DE | Retail Sales / Import/Export Prices |
| 31-Aug | 0745 | FR | HICP (p) / PPI / GDP (f) / Consumer Spending |
| 31-Aug | 0855 | DE | Unemployment |
| 31-Aug | 1000 | EU | HICP (p) / Unemployment |
| 31-Aug | 1000 | IT | HICP (p) |
