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USDJPY TECHS: 50-Day EMA Key at the Close

USDJPY TECHS
USForeign Exchange Technical AnalysisAPACJapanBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 158.87 High Jan 10 and a bull trigger   
  • RES 3: 156.75 High Jan 23 
  • RES 2: 155.89 High Feb 3 
  • RES 1: 154.51/62 50-day EMA and a pivot resistance / Intraday high       
  • PRICE: 154.47 @ 15:10 GMT Feb 12
  • SUP 1: 152.38/150.93 Intraday low / Low Feb 07
  • SUP 2: 149.69 Low Dec 9 
  • SUP 3: 148.65 Low Dec 3 ‘24 and a key support 
  • SUP 4: 148.01 Low Oct 9 ‘24     

USDJPY traded stronger Wednesday, extending the recovery from the Feb 7 lows. The move higher appears to be a correction and this is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. It has been pierced, a clear breach at the close would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. This would open 155.89, the Feb 3 high. Key support and bear trigger is 150.93, the Feb 7 low.

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  • RES 4: 158.87 High Jan 10 and a bull trigger   
  • RES 3: 156.75 High Jan 23 
  • RES 2: 155.89 High Feb 3 
  • RES 1: 154.51/62 50-day EMA and a pivot resistance / Intraday high       
  • PRICE: 154.47 @ 15:10 GMT Feb 12
  • SUP 1: 152.38/150.93 Intraday low / Low Feb 07
  • SUP 2: 149.69 Low Dec 9 
  • SUP 3: 148.65 Low Dec 3 ‘24 and a key support 
  • SUP 4: 148.01 Low Oct 9 ‘24     

USDJPY traded stronger Wednesday, extending the recovery from the Feb 7 lows. The move higher appears to be a correction and this is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. It has been pierced, a clear breach at the close would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. This would open 155.89, the Feb 3 high. Key support and bear trigger is 150.93, the Feb 7 low.