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Bulls Remain In The Driver’s Seat

USDJPY TECHS
  • RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 2: 155.00 Round number resistance
  • RES 1: 154.79 High Apr 16
  • PRICE: 154.71 @ 06:48 BST Apr 22
  • SUP 1: 153.59 Low Apr 19
  • SUP 2: 152.75/151.03 20- and 50-day EMA values
  • SUP 3: 150.27 Low Mar 21
  • SUP 4: 149.03 Low Mar 19

USDJPY remains in consolidation mode and is trading at its recent highs. The primary uptrend is intact and note that moving average studies are in a bull mode position, highlighting a clear rising trend. The trend is overbought, however, this is clearly not a concern for bulls at this stage. Sights are on the 155.00 handle next. On the downside, support lies at 152.75, the 20-day EMA.

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  • RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 2: 155.00 Round number resistance
  • RES 1: 154.79 High Apr 16
  • PRICE: 154.71 @ 06:48 BST Apr 22
  • SUP 1: 153.59 Low Apr 19
  • SUP 2: 152.75/151.03 20- and 50-day EMA values
  • SUP 3: 150.27 Low Mar 21
  • SUP 4: 149.03 Low Mar 19

USDJPY remains in consolidation mode and is trading at its recent highs. The primary uptrend is intact and note that moving average studies are in a bull mode position, highlighting a clear rising trend. The trend is overbought, however, this is clearly not a concern for bulls at this stage. Sights are on the 155.00 handle next. On the downside, support lies at 152.75, the 20-day EMA.