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Bulls Remain In The Driver’s Seat

USDJPY TECHS
  • RES 4: 153.39 1.382 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 153.00 Round number resistance
  • RES 2: 152.66 1.236 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 1: 151.97 High Mar 27
  • PRICE: 151.59 @ 16:40 GMT Apr 2
  • SUP 1: 150.48/149.39 20- and 50-day EMA values
  • SUP 2: 147.44 Low Mar 14
  • SUP 3: 146.49 Low Mar 08 / 11 and key support
  • SUP 4: 145.90 Low Feb 1

A bullish theme in USDJPY remains intact. The latest pause appears to be a flag - a bullish continuation pattern. MA studies are in a bull-mode position too and this also highlights a clear uptrend. Sights are on 151.91/95, the Nov 13 high and Oct 1 ‘22 highs respectively. The resistance has been tested, a clear break would confirm a resumption of the long-term uptrend and open 152.66, a Fibonacci projection. Support is at 150.48, the 20-day EMA.

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

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