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Heading South

USDJPY TECHS
  • RES 4: 142.52 50-day EMA
  • RES 2: 142.25 High Nov 21 and key resistance
  • RES 3: 141.14 20-day EMA
  • RES 1: 138.12/139.89 High Dec 1 / High Nov 30
  • PRICE: 135.34 @ 20:30 GMT Dec 1
  • SUP 1: 135.23 Low Dec 1
  • SUP 2: 134.65 Low Aug 18
  • SUP 3: 133.72 0.764 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 4: 132.56 Low Aug 15

The short-term trend condition in USDJPY remains bearish and Thursday’s move lower has confirmed a resumption of the downtrend. The break lower maintains the bearish price sequence of lower lows and lower highs and sights are set on 134.65, the Aug 18 low. Moving average studies are in a bear mode position and this highlights current sentiment. Resistance to watch is 139.89, Wednesday’s high.

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