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Monitoring The 50-Day EMA

USDJPY TECHS
  • RES 4: 132.39 High Apr 15 2002
  • RES 3: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 2: 129.78/131.35 High May 17 / High May 9 and the bull trigger
  • RES 1: 128.22 20-day EMA
  • PRICE: 127.43 @ 06:30 BST May 26
  • SUP 1: 126.36 Low May 24
  • SUP 2: 125.95 50-day EMA
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.01 Low Apr 11

USDJPY traded lower Tuesday and breached support at 126.95, Apr 27 low. This level represented an important short-term pivot support and the break suggests scope for a continuation lower. A move down is still considered a correction and is allowing a recent overbought condition to unwind. Attention is on the 50-day EMA, at 125.95. Initial firm resistance has been defined at 129.78, May 17 high.

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  • RES 4: 132.39 High Apr 15 2002
  • RES 3: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 2: 129.78/131.35 High May 17 / High May 9 and the bull trigger
  • RES 1: 128.22 20-day EMA
  • PRICE: 127.43 @ 06:30 BST May 26
  • SUP 1: 126.36 Low May 24
  • SUP 2: 125.95 50-day EMA
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.01 Low Apr 11

USDJPY traded lower Tuesday and breached support at 126.95, Apr 27 low. This level represented an important short-term pivot support and the break suggests scope for a continuation lower. A move down is still considered a correction and is allowing a recent overbought condition to unwind. Attention is on the 50-day EMA, at 125.95. Initial firm resistance has been defined at 129.78, May 17 high.