November 25, 2022 19:30 GMT
Key Support Remains Exposed
USDJPY TECHS
- RES 4: 145.11 Low Oct 27 and a recent breakout level
- RES 3: 143.18 50-day EMA
- RES 2: 142.48 High Nov 11
- RES 1: 139.64/142.25 High Nov 24 / High Nov 21 and the bull trigger
- PRICE: 139.26 @ 15:50 GMT Nov 25
- SUP 1: 137.68 Low Nov 15 and a bear trigger
- SUP 2: 137.37 Low Aug 29
- SUP 3: 135.82 Low Aug 23
- SUP 4: 135.49 76.4% retracement of the Aug 2 - Oct 21 bull leg
Short-term trend conditions in USDJPY remain bearish and the pair traded lower Thursday. The reversal from Tuesday’s high of 142.25 signals the end of the corrective bounce between Nov 15 - 22. Attention is on the bear trigger at 137.68, the Nov 15 low where a break would confirm a resumption of the downtrend and open 137.37, the Aug 29 low. Key short-term resistance is seen at 142.25.
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