Free Trial

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.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.