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USDJPY TECHS: MA Studies Highlight A Dominant Uptrend

USDJPY TECHS
USForeign Exchange Technical AnalysisAPACJapanBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 160.00 Round number resistance   
  • RES 3: 159.45 High Jul 12
  • RES 2: 159.26 0.618 proj f the Sep 16 - Nov 15 - Dec 3 price swing  
  • RES 1: 157.93 High Dec 20 
  • PRICE: 157.13 @ 16:38 GMT Dec 23
  • SUP 1: 155.89/153.36 High Nov 20 / 20-day EMA
  • SUP 2: 152.13/150.90 50-day EMA / Low Dec 10  
  • SUP 3: 149.37 Low Dec 06 
  • SUP 4: 148.65 Low Dec 03 and the bear trigger

USDJPY bullish conditions remain intact and last week’s strong gains reinforce current conditions. The breach of 156.75, the Nov 15 high and a bull trigger, confirms a resumption of the uptrend and opens 159.45, the Jul 12 high. Moving average studies are in a bull-mode position highlighting a clear dominant uptrend. Initial firm support is 153.36, the 20-day EMA. A pullback would be considered corrective.     

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  • RES 4: 160.00 Round number resistance   
  • RES 3: 159.45 High Jul 12
  • RES 2: 159.26 0.618 proj f the Sep 16 - Nov 15 - Dec 3 price swing  
  • RES 1: 157.93 High Dec 20 
  • PRICE: 157.13 @ 16:38 GMT Dec 23
  • SUP 1: 155.89/153.36 High Nov 20 / 20-day EMA
  • SUP 2: 152.13/150.90 50-day EMA / Low Dec 10  
  • SUP 3: 149.37 Low Dec 06 
  • SUP 4: 148.65 Low Dec 03 and the bear trigger

USDJPY bullish conditions remain intact and last week’s strong gains reinforce current conditions. The breach of 156.75, the Nov 15 high and a bull trigger, confirms a resumption of the uptrend and opens 159.45, the Jul 12 high. Moving average studies are in a bull-mode position highlighting a clear dominant uptrend. Initial firm support is 153.36, the 20-day EMA. A pullback would be considered corrective.