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Best Levels Since 1998

USDJPY TECHS
  • RES 4: 143.30 2.23 proj of the Aug 2 - 8 - 11 price swing
  • RES 3: 142.08 2.00 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 140.86 1.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 140.67 2.0% 10-dma envelope
  • PRICE: 140.29 @ 06:29 BST Sep 3
  • SUP 1: 138.86/05 Low Sep 1 / Low Aug 30
  • SUP 2: 136.89 20-day EMA
  • SUP 3: 135.41 50-day EMA
  • SUP 4: 133.91 Low Aug 17

USDJPY continues to appreciate and yesterday's climb delivered a print above the Y140.00 handle, for the first time since 1998. This strengthens current bullish conditions and puts prices well north of former resistance at 139.39, the Jul 14 high. The break higher this week has also confirmed a resumption of the primary uptrend. Sights are set on 140.67 next, the top of a MA envelope. Initial firm support is seen at 136.89, the 20-day EMA.

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