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Bears Remain In The Driver's Seat

USDJPY TECHS
  • RES 4: 145.11 Low Oct 27 and a recent breakout level
  • RES 3: 143.37 50-day EMA
  • RES 2: 142.48 High Nov 11
  • RES 1: 139.64/142.25 Intraday high / High Nov 21 and the bull trigger
  • PRICE: 138.23 @ 15:39 GMT Nov 24
  • SUP 1: 137.68 Low Nov 15 and a bear trigger
  • SUP 2: 137.37 Low Aug 29
  • SUP 3: 135.82 Low Aug 23
  • SUP 4: 135.49 76.4% retracement of the Aug 2 - Oct 21 bull leg

Short-term trend conditions in USDJPY remain bearish and the pair is trading lower again Thursday. The sell-off from Tuesday’s high signals the end of the corrective bounce between Nov 15 - 22. Attention is on the bear trigger at 137.68, the Nov 15 low where a break would confirm a resumption of the downtrend and open 137.37, the Aug 29 low. Key short-term resistance has been defined at 142.25, the Nov 21 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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