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Bull Flag

USDJPY TECHS
  • RES 4: 133.11 High Apr 4 2002
  • RES 3: 132.39 High Apr 15 2002
  • RES 2: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 1: 131.25 High Apr 28 and the bull trigger
  • PRICE: 130.46 @ 17:10 BST May 5
  • SUP 1: 127.48 20-day EMA
  • SUP 2: 126.95 Low Apr 27 and a key support
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.01 Low Apr 11

USDJPY bullish conditions remain in place and short-term dips are considered corrective. A bull flag has appeared on the daily chart - a continuation pattern that reinforces the uptrend. A break of resistance at 131.25, Apr 28 high would confirm a resumption of the uptrend and open 131.96, a Fibonacci projection. On the downside, key support has been defined at 126.95, the Apr 27 low. A break would signal a reversal.

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

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