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Approaches The Cycle High

USDJPY TECHS
  • RES 4: 111.71 High Mar 24 and a key resistance
  • RES 3: 111.30 High Mar 26, 2020
  • RES 2: 110.97 High Mar 31 and the bull trigger
  • RES 1: 110.90 1.0% 10-dma envelope
  • PRICE: 110.69 @ 06:25 BST Jun 17
  • SUP 1: 109.81 Low Jun 16
  • SUP 2: 109.19/16 Low Jun 7 / 50-day EMA
  • SUP 3: 108.56/34 Low May 25 / Low May 7 and key S/T support
  • SUP 4: 107.48 Low Apr 23 and the bear trigger

USDJPY traded higher yesterday extending the recovery from 109.19, Jun 7 low. The break of 110.33, Jun 4 high negates recent bearish threats and instead confirms a resumption of the uptrend since Apr 23. Attention is on 110.90, the 1.0% 10-dma envelope and key resistance at 110.97, the year high print on Mar 31. A break of 110.97 would confirm a resumption of the broader uptrend. Initial support is at 109.81, yesterday's low.

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