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Maintains This Week's Firmer Tone

DOLLAR-YEN TECHS
  • RES 4: 106.01 50-day EMA
  • RES 3: 105.53 20-day EMA
  • RES 2: 105.44 High Sep16
  • RES 1: 105.20 Intraday high
  • PRICE: 104.99 @ 10:39 BST Sep 23
  • SUP 1: 104.41 Low Sep 22
  • SUP 2: 104.00 Low Sep 21
  • SUP 3: 103.80 1.618 proj of the Aug 13 - 19 rally from Aug 28 high
  • SUP 4: 103.51 1.764 proj of the Aug 13 - 19 rally from Aug 28 high

USDJPY pushed higher earlier to extend this week's bounce but has found resistance at the day high. The pair has this week defined a firm support at 104.00, the Monday low, and this level also represents a near-term bear trigger. A resumption of weakness and clearance of 104.00 would open 103.80 and 103.51, both Fibonacci projections. The Mar 12 low of 103.09 has also appeared on the radar. 105.44 is the next resistance, Sep 16 high.

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