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Corrective Cycle In USDJPY

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  • The trend direction in USDJPY remains down and short-term gains are considered corrective. 
  • The 20-day EMA has been breached and this signals potential for a climb towards resistance at the 50-day EMA. 
  • Note that the Mar 3 high is at 151.30. 
  • Clearance of 151.30 and the 50-day EMA, is required to highlight a stronger reversal.
  • Moving average studies remain in a bear-mode set-up, highlighting a dominant downtrend.
  • The bear trigger is at 146.54, the Mar 11 low
JPY Curncy_18
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  • The trend direction in USDJPY remains down and short-term gains are considered corrective. 
  • The 20-day EMA has been breached and this signals potential for a climb towards resistance at the 50-day EMA. 
  • Note that the Mar 3 high is at 151.30. 
  • Clearance of 151.30 and the 50-day EMA, is required to highlight a stronger reversal.
  • Moving average studies remain in a bear-mode set-up, highlighting a dominant downtrend.
  • The bear trigger is at 146.54, the Mar 11 low
JPY Curncy_18