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Price Signal Summary - USDJPY Pierces 150.00

OUTLOOK
  • In FX, EURUSD faced resistance Wednesday. Key resistance intersects at 0.9901, the top of the bear channel drawn from the Feb 10 high. A clear break of this line would highlight a channel breakout and a stronger reversal. For nowl, the trend remains down and recent gains are considered corrective. A move lower would open 0.9633, the Oct 13 low.
  • Short-term conditions in GBPUSD remain bullish. Key short-term support has been defined at 1.0924, the Oct 12 low. A continuation higher would signal scope for a test of 1.1495, the Oct 5 high and bull trigger. Clearance of this level would strengthen bullish conditions. On the downside, a break of 1.0924 would be bearish.
  • USDJPY continues to climb. Last week's gains resulted in a break of 145.90, the Sep 22 high, confirming a resumption of the primary uptrend and maintaining the broader bullish price sequence of higher highs and higher lows. The breach of 147.66, Aug 1998 high, has also reinforced the bullish theme. The focus is on the psychological 150.00 handle. This level has been pierced and opens 150.45, 3.618 projection of the Aug 2 - 8 - 11 price swing.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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