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Fresh Cycle High

USDJPY TECHS
  • RES 4: 154.00 3.382 proj of the Jul 14 - 21 - 28 price swing
  • RES 3: 153.52 2.236 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 2: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 1: 151.95 High Oct 21 2022 and a major resistance
  • PRICE: 151.56 @ 16:35 GMT Nov 13
  • SUP 1: 150.25 20-day EMA
  • SUP 2: 149.21/148.85 Low Nov 3 / 50-day EMA
  • SUP 3: 148.81 Low Oct 30
  • SUP 4: 147.43 Low Oct 3 and key support

The USDJPY trend outlook remains bullish despite intraday corrections lower. Price has traded above 151.72, the Oct 31 high and a bull trigger, to confirm a resumption of the uptrend. This reinforces a bullish theme and note that moving average studies are still in a bull-mode position, reflecting the market's positive sentiment. Sights are on 151.95, the Oct 21 2022 high and a major resistance. Support is at 150.25, the 20-day EMA.

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