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Fresh Cycle High

USDJPY TECHS
  • RES 4: 146.59 High Nov 10 2022
  • RES 3: 146.38 1.764 projection of the Jul 14 - 21 - 28 price swing
  • RES 2: 145.69 1.618 projection of the Jul 14 - 21 - 28 price swing
  • RES 1: 145.58 High Aug 14
  • PRICE: 145.38 @ 16:06 BST Aug 14
  • SUP 1: 143.50 Low Aug 10
  • SUP 2: 142.47/141.22 20- and 50-day EMA values
  • SUP 3: 138.07 Low Jul 28
  • SUP 4: 137.25 Low Jul 14 and key support

An uptrend in USDJPY remains intact and the pair has touched a fresh cycle high today of 145.58, piercing resistance at 145.07, the Jun 30 high. The move higher confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode condition, highlighting an uptrend. The focus is on 145.69, a Fibonacci projection. Initial support to watch lies at 142.47, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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