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USDJPY TECHS: Pierces The 50-Day EMA

USDJPY TECHS
USForeign Exchange Technical AnalysisAPACJapanBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 158.87 High Jan 10 and a bull trigger   
  • RES 3: 156.75 High Jan 23 
  • RES 2: 155.89 High Feb 3 
  • RES 1: 154.51/80 50-day EMA and a pivot resistance / High Feb 12       
  • PRICE: 153.01 @ 16:20 GMT Feb 13
  • SUP 1: 152.38/150.93 Low Feb 12 / Low Feb 07
  • SUP 2: 149.69 Low Dec 9 
  • SUP 3: 148.65 Low Dec 3 ‘24 and a key support 
  • SUP 4: 148.01 Low Oct 9 ‘24     

USDJPY is slipping further off weekly highs. A continuation of this theme would confirm the move higher as corrective, and has allowed an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. It has been pierced, a clear breach of the average would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. This would open 155.89, the Feb 3 high. Key support and bear trigger is unchanged at 150.93, the Feb 7 low.         

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  • RES 4: 158.87 High Jan 10 and a bull trigger   
  • RES 3: 156.75 High Jan 23 
  • RES 2: 155.89 High Feb 3 
  • RES 1: 154.51/80 50-day EMA and a pivot resistance / High Feb 12       
  • PRICE: 153.01 @ 16:20 GMT Feb 13
  • SUP 1: 152.38/150.93 Low Feb 12 / Low Feb 07
  • SUP 2: 149.69 Low Dec 9 
  • SUP 3: 148.65 Low Dec 3 ‘24 and a key support 
  • SUP 4: 148.01 Low Oct 9 ‘24     

USDJPY is slipping further off weekly highs. A continuation of this theme would confirm the move higher as corrective, and has allowed an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. It has been pierced, a clear breach of the average would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. This would open 155.89, the Feb 3 high. Key support and bear trigger is unchanged at 150.93, the Feb 7 low.