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Oscillating Either Side of Y140

USDJPY TECHS
  • RES 4: 145.72 20-day EMA
  • RES 3: 144.52 50-day EMA
  • RES 2: 142.48 High Nov 11
  • RES 1: 140.80 High Nov 14
  • PRICE: 140.54 @ 15:11 GMT Nov 14
  • SUP 1: 138.46 Intraday low
  • SUP 2: 138.05 Low Aug 30
  • SUP 3: 137.37 Low Aug 29
  • SUP 4: 135.49 76.4% retracement of the Aug 2 - Oct 21 bull leg

USDJPY remains bearish following last week’s sell-off and the pair is oscillating either side of Y140. A continuation of the current bear cycle would set the scene for a move towards 138.05 and 137.37, the Aug 30 and 29 lows respectively. The pair is testing 138.64, 61.8% of the Aug 2 - Oct 21 bull leg. A clear break of this Fibonacci retracement would reinforce bearish conditions. Initial firm resistance is seen at 144.52, the 50-day EMA.

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

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