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Holding On To Recent Gains

USDJPY TECHS
  • RES 4: 128.15 High May 17 2002
  • RES 3: 126.71 3.50 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • RES 2: 126.26 3.382 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • RES 1: 125.86 High Jun 5 2015 and a major resistance
  • PRICE: 125.64 @ 06:36 BST Apr 12
  • SUP 1: 123.47 Low Apr 6 and 7
  • SUP 2: 122.24 20-day EMA
  • SUP 3: 121.28 Low Mar 31 and a bear trigger
  • SUP 4: 120.00 Round number support

USDJPY maintains its firmer tone and is holding on to its recent gains. The pair has this week breached key near term resistance 125.09, Mar 28 high. The break higher confirms the end of the recent corrective cycle and confirms a resumption of the primary uptrend. Moving averages also point north. The focus is on 125.86 next, the Jun 5 2015 high and a major resistance. On the downside, key trend support is unchanged at 121.28, the Mar 31 low.

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