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Trend Conditions Remain Bullish

USDJPY TECHS
  • RES 4: 138.56 1.618 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 137.30 1.50 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 2: 136.04 1.382 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 1: 135.59 High Jun 15
  • PRICE: 135.05 @ 16:09 BST Jun 20
  • SUP 1: 131.50 Low Jun 16 and key short-term support
  • SUP 2: 130.43 Low Jun Low Jun 6
  • SUP 3: 130.00 Round number support
  • SUP 4: 12905 50-day EMA

The USDJPY uptrend remains intact and the recent sell-off is considered corrective - the rebound from Thursday’s low suggests the correction is over. The recent print above 135.00 reinforces bullish conditions and maintains the positive price sequence of higher highs and higher lows. The focus is on a climb towards 136.04, a Fibonacci projection. Initial firm support is seen at Thursday’s low of 131.50, just below the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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