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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: 146.68 High Aug 28 and bull trigger
  • PRICE: 146.61 @ 15:33 BST Aug 28
  • SUP 1: 144.58 20 EMA
  • SUP 2: 143.30 Low Aug 10
  • SUP 3: 142.73 50-day EMA
  • SUP 4: 141.52 Low Aug 7

The uptrend in USDJPY remains intact and Monday’s fresh cycle high reinforces bullish conditions and confirms a resumption of the uptrend. Note that moving average studies are in a bull mode condition - this set-up continues to highlight an uptrend. The focus is on 147.49, a Fibonacci projection. Support to watch lies at 144.58, the 20-day EMA. A break of this average is required to highlight a short-term top.

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