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Price Signal Summary - USDJPY Path Of Least Resistance Remains Up

OUTLOOK
  • In FX, EURUSD trend conditions remain bearish and the latest pause in the trend appears to be a flag formation - a bearish continuation pattern that reinforces current conditions. Sights are on 1.0724, the Dec 8 low, and 1.0712, 61.8% of the Oct - Dec bull leg. A clear break of this important support zone would strengthen the bearish theme. Initial resistance is 1.0827, the 20-day EMA.
  • A bearish condition in GBPUSD is trading higher today. A bearish condition remains intact and the latest recovery still appears to be a correction. Recent weakness resulted in a break of 1.2597, Jan 17 low and the base of a recent range. The range breakout strengthens a bearish condition and opens 1.2500, Dec 13 low. Key resistance is unchanged at 1.2827, the Dec 28 high. Initial resistance is at 1.2675, a Fibonacci retracement.
  • The USDJPY trend outlook is bullish and the pair is holding on to its latest gains. Key resistance at 148.80, Jan 19 high, has been cleared, confirming a resumption of the uptrend that started late December. This also maintains the sequence of higher highs and higher lows. 149.16, 76.4% of the Nov 13 - Dec 28 bull leg, has been breached. Sights are on 149.75 next, the Nov 22 high. Key short-term support is unchanged at 145.90, the Feb 1 low. Initial support lies at 147.74, 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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