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Key Resistance Remains Exposed

USDJPY TECHS
  • RES 4: 146.38 1.764 projection of the Jul 14 - 21 - 28 price swing
  • RES 3: 145.69 1.618 projection of the Jul 14 - 21 - 28 price swing
  • RES 2: 145.07 High Jun 30 and a bull trigger
  • RES 1: 144.20 High Jul 7
  • PRICE: 143.13 @ 06:27 BST Aug 9
  • SUP 1: 141.75/140.80 20- and 50-day EMA values
  • SUP 2: 138.07 Low Jul 28
  • SUP 3: 137.25 Low Jul 14 and key support
  • SUP 4: 136.31 Low May 17

An uptrend in USDJPY remains intact and this week’s gains reinforce current conditions. Attention is on resistance at 144.20, the Jul 7 high. A break of this hurdle would open key resistance and the bull trigger at 145.07, the Jun 30 high. Moving average studies are in a bull mode condition and a break of 145.07 would confirm a resumption of the uptrend. On the downside, initial support to watch lies at 141.75, the 20-day EMA.

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