Free Trial

Northbound

USDJPY TECHS
  • RES 4: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
  • RES 3: 146.59 High Nov 10 2022
  • RES 2: 146.38 1.764 projection of the Jul 14 - 21 - 28 price swing
  • RES 1: 145.93 High Aug 16
  • PRICE: 145.46 @ 17:12 BST Aug 16
  • SUP 1: 143.89 High Aug 3
  • SUP 2: 143.03/141.55 20- and 50-day EMA values
  • SUP 3: 138.07 Low Jul 28
  • SUP 4: 137.25 Low Jul 14 and key support

The uptrend in USDJPY remains intact and the pair touched a fresh cycle high of 145.93 Wednesday. Recent gains resulted in a break of resistance at 145.07, Jun 30 high, confirming a resumption of the uptrend and maintaining the bullish price sequence of higher highs and higher lows. MA studies are in a bull mode condition, highlighting bullish sentiment. The focus is on 146.38, a Fibonacci projection. Initial support to watch is 143.03, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.