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Heading South

USDJPY TECHS
  • RES 4: 140.00 Round number resistance
  • RES 3: 137.79 20-day EMA
  • RES 2: 137.79 20-day EMA
  • RES 1: 135.76 Low Dec 19
  • PRICE: 133.21 @ 05:38 GMT Dec 20
  • SUP 1: 132.95 Low Aug 16
  • SUP 2: 132.56 Low Aug 15
  • SUP 3: 131.74 Low Aug 11 and a key support
  • SUP 4: 131.08 1.00 proj of the Oct 31 - Nov 15 - 21 price swing

USDJPY has traded sharply lower today and in the process cleared key support and the bear trigger at 133.63, the Dec 2 low. This confirms a resumption of the current downtrend and paves the way for weakness towards 132.56, the Aug 15 low. Moving averages studies are in a bear-mode position and price remains below the 20-day EMA. This average is a key resistance - it intersects at 137.79.

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