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Fresh Cycle High

USDJPY TECHS
  • RES 4: 124.63 High Aug 13 2015
  • RES 3: 123.76 High Nov 18 2015
  • RES 2: 122.47 2.382 projection of the Dec 3 - Jan 4 - 24 price swing
  • RES 1: 121.69 High Jan 29 2016
  • PRICE: 121.40 @ 06:21 GMT Mar 24
  • SUP 1: 120.00 Round number support
  • SUP 2: 119.04/ Low Mar 21 / 118.18 Low Mar 16
  • SUP 3: 117.74/28 20-day EMA / Low Mar 14
  • SUP 4: 116.35 High Jan 4

USDJPY bulls remain in charge and the pair has traded to a fresh cycle high once again today. The USD has this week cleared the top of the bull channel, drawn from the Jun 1 2021 high and traded through the psychological 120.00 handle. This confirmed a resumption of the uptrend and strengthened bullish conditions. The focus shifts to 121.69 next, the Jan 29 2016 high. Initial support is seen at 120.00.

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