April 24, 2024 05:37 GMT
Holding On To Its Recent Gains
USDJPY TECHS
- RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
- RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
- RES 2: 155.00 Round number resistance
- RES 1: 154.88 High Apr 23
- PRICE: 154.88 @ 06:36 BST Apr 24
- SUP 1: 153.59 Low Apr 19
- SUP 2: 153.13/151.32 20- and 50-day EMA values
- SUP 3: 150.27 Low Mar 21
- SUP 4: 149.03 Low Mar 19
The USDJPY trend condition remains bullish and the pair and the pair is holding on to its recent gains. Moving average studies remain in a bull mode position too and this set-up continues to highlight a clear rising trend. The trend is overbought, however, this is clearly not a concern for bulls at this stage. Sights are on the 155.00 handle next. On the downside, support lies at 153.13, the 20-day EMA.
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