April 22, 2024 18:30 GMT
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: 154.75 @ 15:32 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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