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Best Levels Since 1998

USDJPY TECHS
  • RES 4: 142.46 High Aug 31, 1998
  • RES 3: 140.86 1.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 140.65 2.0% 10-dma envelope
  • RES 1: 140.13 High Sep 1
  • PRICE: 139.32 @ 15:38 BST Sep 1
  • SUP 1: 138.05 Low Aug 30
  • SUP 2: 136.54 20-day EMA
  • SUP 3: 135.21 50-day EMA
  • SUP 4: 133.91 Low Aug 17

USDJPY short-term conditions firmed further Thursday, with the pair showing above the Y140.00 handle for the first time since 1998. This puts prices well north of former resistance at 139.39, the Jul 14 high as well as the near-term projection level at 140.11. The break here confirms a resumption of the primary uptrend and the pair now needs to establish a base above the handle. Upside levels shift higher to 140.65 and 150.86.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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