USDJPY traded lower still Thursday, extending the pullback from Tuesday’s high of 137.77 high. Price has pierced support at the 20-day EMA which intersects at 134.43. The 50-day EMA lies at 133.84 - this has been pierced. A clear breach of this support zone would undermine the recent bullish theme and signal scope for a deeper pullback. Key resistance is unchanged at 137.91, the Mar 8 high. A break would be bullish.

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

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Edward Hardy

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

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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Breaks Below 20-Day EMA