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Price Signal Summary - Price Signal Summary - USDJPY Bears Remain In The Driver's Seat

OUTLOOK
  • In FX, EURUSD maintains a positive tone and the pair continues to appreciate - this week’s gains reinforce bullish conditions. Price has recently traded through key resistance at 1.1017, the Nov 29 high and a bull trigger, as well as 1.1081, 76.4% of the Jul - Oct bear leg. This opens 1.1229, the Jul 20 high. Initial firm support is seen at 1.0938, the 20-day EMA.
  • The trend outlook in GBPUSD remains bullish. The pair has breached resistance at 1.2794, the Dec 14 high and traded through 1.2800. This confirms a resumption of the uptrend and opens 1.2881, 76.4% retracement of the Jul 14 - Oct 4 bear leg. Initial firm support has been defined at 1.2612, the Dec 21 low.
  • USDJPY is trading lower today and the pair remains below 144.96, the Dec 9 high. The recent recovery from 140.97, the Dec 14 low, has been a correction and the trend condition remains bearish. Support at 140.97, the Dec 14 low, has been cleared, confirming a resumption of the downtrend that started Nov 13. This opens 140.23, 2.00 projection of the Nov 13 - 21 - 22 price swing. Initial firm resistance is at 144.15, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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