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Approaching Support At The 50-Day EMA

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 139.59 50.0% retracement of the Oct 21 and Jan 16 bear leg
  • RES 3: 138.17/25 High Dec 15 / 2.0% Upper Bollinger Band
  • RES 2: 137.91 High Mar 8 and the bull trigger
  • RES 1: 136.99 Intraday high
  • PRICE: 136.39 @ 15:06 GMT Mar 10
  • SUP 1: 134.23 50-day EMA
  • SUP 2: 132.90 High Feb 6
  • SUP 3: 132.57 50.0% retracement of the Jan 18 - Mar 8 rally
  • SUP 4: 131.3161.8% retracement of the Jan 18 - Mar 8 rally

The USDJPY trend outlook is unchanged and remains bullish. However, today’s move lower suggests that a deeper corrective pullback is likely. The pair has traded below support at 135.37, the Mar 6 low. Attention turns to the 50-day EMA, which intersects at 134.23. A clear break of this average would strengthen a bearish threat. On the upside, the bull trigger is at 137.91, the Mar 8 high.

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  • RES 4: 139.59 50.0% retracement of the Oct 21 and Jan 16 bear leg
  • RES 3: 138.17/25 High Dec 15 / 2.0% Upper Bollinger Band
  • RES 2: 137.91 High Mar 8 and the bull trigger
  • RES 1: 136.99 Intraday high
  • PRICE: 136.39 @ 15:06 GMT Mar 10
  • SUP 1: 134.23 50-day EMA
  • SUP 2: 132.90 High Feb 6
  • SUP 3: 132.57 50.0% retracement of the Jan 18 - Mar 8 rally
  • SUP 4: 131.3161.8% retracement of the Jan 18 - Mar 8 rally

The USDJPY trend outlook is unchanged and remains bullish. However, today’s move lower suggests that a deeper corrective pullback is likely. The pair has traded below support at 135.37, the Mar 6 low. Attention turns to the 50-day EMA, which intersects at 134.23. A clear break of this average would strengthen a bearish threat. On the upside, the bull trigger is at 137.91, the Mar 8 high.