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Trend Needle Still Points North

USDJPY TECHS
  • RES 4: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 130.43 High Apr 24 2002
  • RES 2: 130.00 Psychological round number
  • RES 1: 129.44 0.764 proj of the Feb 24 - Mar 28 - 31 price swing
  • PRICE: 128.58 @ 06:34 BST Apr 25
  • SUP 1: 127.46/26.98 Low Apr 20 / Low Apr 19
  • SUP 2: 125.87 Low Apr 15
  • SUP 3: 125.17 20-day EMA
  • SUP 4: 124.01 Low Apr 11

USDJPY is unchanged and continues to consolidate. The uptrend remains intact. Last week’s price gains marks an extension of the uptrend and reinforces underlying bullish conditions, signalling potential for a continuation of the trend. The focus on 129.44 next, a Fibonacci projection. Sights are also on the important psychological 130.00 handle. A firm support is seen at 125.17, the 20-day EMA.

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