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Clears Support

USDJPY TECHS
  • RES 4: 147.32 High Dec 7
  • RES 3: 146.59 High Dec 11 and key short-term resistance
  • RES 2: 144.96 High Dec 19
  • RES 1: 144.15 20-day EMA
  • PRICE: 140.81 @ 07:35 GMT Dec 28
  • SUP 1: 140.71 76.4% of the Jul 14 - Nov 13 bull run
  • SUP 2: 140.23 2.00 proj of the Nov 13 - 21 - 22 price swing
  • SUP 3: 139.11 2.236 proj of the Nov 13 - 21 - 22 price swing
  • SUP 4: 138.07 Low Jul 28

USDJPY is trading lower today and the pair remains below 144.96, the Dec 9 high. The recent recovery from 140.97, the Dec 14 low, has been a correction and the trend condition remains bearish. Support at 140.97, the Dec 14 low, has been cleared, confirming a resumption of the downtrend that started Nov 13. This opens 140.23, a Fibonacci projection point. Initial firm resistance is at 144.15, the 20-day EMA.

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