Free Trial

Moving Average Studies Highlight An Uptrend

USDJPY TECHS
  • RES 4: 148.40 High Nov 4 2022
  • RES 3: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
  • RES 2: 146.93 High Nov 8 2022
  • RES 1: 146.56 High Aug 17
  • PRICE: 145.75 @ 16:45 BST Aug 22
  • SUP 1: 144.93/143.89 Low Aug 18 / High Aug 3
  • SUP 2: 143.99 20- and EMA
  • SUP 3: 142.20 50-day EMA
  • SUP 4: 141.52 Low Aug 7

The uptrend in USDJPY remains intact and short-term pullbacks are considered corrective. Last week’s gains resulted in a move above 145.07, the Jun 30 high. This confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. MA studies are in a bull mode condition, highlighting an uptrend. The focus is on 147.49, a Fibonacci projection. Initial firm support is 143.99, the 20-day EMA.

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.