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Bearish Impulsive Wave

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 157.86 High Jul 19
  • RES 3: 156.44 50-day EMA
  • RES 2: 155.25 High Jul 30
  • RES 1: 151.94 Low Jul 25
  • PRICE: 148.99 @ 06:57 BST Aug 2
  • SUP 1: 148.51 Low Aug 1
  • SUP 2: 148.04 Low Mar 13 / 8
  • SUP 3: 147.24/146.49 Low
  • SUP 4: 145.37 76.4% retracement of the Dec 28 ‘23 - Jul 3 upleg

USDJPY remains bearish and this week’s sell-off reinforces this condition. The move down confirms a resumption of the downtrend and price has traded through a key chart point at the 150.00 handle, reinforcing a bearish theme. 148.54, 61.8% of the Dec 28 ‘23 - Jul 3 upleg, has been pierced. A resumption of weakness would open 148.04, the Mar 15 low. Key short-term resistance has been defined at 155.22, the Jul 30 high.

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  • RES 4: 157.86 High Jul 19
  • RES 3: 156.44 50-day EMA
  • RES 2: 155.25 High Jul 30
  • RES 1: 151.94 Low Jul 25
  • PRICE: 148.99 @ 06:57 BST Aug 2
  • SUP 1: 148.51 Low Aug 1
  • SUP 2: 148.04 Low Mar 13 / 8
  • SUP 3: 147.24/146.49 Low
  • SUP 4: 145.37 76.4% retracement of the Dec 28 ‘23 - Jul 3 upleg

USDJPY remains bearish and this week’s sell-off reinforces this condition. The move down confirms a resumption of the downtrend and price has traded through a key chart point at the 150.00 handle, reinforcing a bearish theme. 148.54, 61.8% of the Dec 28 ‘23 - Jul 3 upleg, has been pierced. A resumption of weakness would open 148.04, the Mar 15 low. Key short-term resistance has been defined at 155.22, the Jul 30 high.