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Corrective Pullback

USDJPY TECHS
  • RES 4: 112.23 High Feb 20, 2020
  • RES 3: 111.71 High Mar 24
  • RES 2: 111.30 High Mar 26, 2020
  • RES 1: 110.97 High Mar 31
  • PRICE: 110.19 @ 06:25 GMT Apr 6
  • SUP 1: 109.75 Low Mar 30
  • SUP 2: 109.27 20-day EMA
  • SUP 3: 108.41 Low Mar 23 and key support
  • SUP 4: 107.82 Low Mar 5

USDJPY has pulled back from recent highs, with prices very briefly showing below 110.00 yesterday. The outlook though remains bullish following the recent trend extension and breach of a number of important short-term resistance levels. Attention is on a climb towards 111.30 next, Mar 26, 2020 high. Note that overbought conditions are still not impacting this trend and instead this continues to reinforce current sentiment. 108.41 is key support.

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