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BoJ Reports Spur Fresh Gains

USDJPY TECHS
  • RES 4: 144.20 High Jul 7
  • RES 3: 143.01 High Jul 10
  • RES 2: 142.08 61.8% Fib for July Downleg
  • RES 1: 141.40 High Jul 20
  • PRICE: 141.30 @ 09:00 BST Jul 21
  • SUP 1: 137.25 Low Jul 14
  • SUP 2: 136.57 4.0% 10-dma envelope
  • SUP 3: 136.31 Low May 17
  • SUP 4: 135.53 61.8% retracement of the Mar 24 - Jun 30 bull leg

The pair adds to recent gains through the Friday open, with BoJ reports helping spur the pair higher. Prices topped the Jul 12 highs (US CPI day) to push well above the Y141.00 handle and further reverse the early July pullback. Prices have now cleared the 140.79 20-day EMA which could signal potential for further gains, bringing 142.08 into view, the 61.8% Fibonacci retracement for the early July downleg.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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