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Fresh Cycle High

  • RES 4: 148.40 High Nov 4 2022
  • RES 3: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
  • RES 2: 146.93 High Nov 8 2022
  • RES 1: 146.56 Intraday high
  • PRICE: 146.36 @ 06:54 BST Aug 17
  • SUP 1: 145.11/143.89 Low Aug 15 / High Aug 3
  • SUP 2: 143.35 20- and EMA
  • SUP 3: 141.74 50-day EMA
  • SUP 4: 138.07 Low Jul 28

The uptrend in USDJPY remains intact and the pair continues to climb. Recent gains resulted in the break of 145.07, Jun 30 high. This 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 current positive sentiment. The focus is on 147.49 next, a Fibonacci projection. Initial firm support to watch is 143.35, the 20-day EMA.

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