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Remains Above Support At The 50-Day EMA

USDJPY TECHS
  • RES 4: 153.52 2.236 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 3: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 2: 151.95 High Oct 21 2022 and a major resistance
  • RES 1: 151.72 High Oct 31
  • PRICE: 150.98 @ 06:40 GMT Nov 9
  • SUP 1: 149.21 Low Nov 3
  • SUP 2: 148.81/148.64 Low Oct 30 / 50-day EMA
  • SUP 3: 147.43 Low Oct 3 and key support
  • SUP 4: 146.44 Low Sep 12

USDJPY bulls remain in the driver’s seat. Key short-term support lies at the 50-day EMA - at 148.64. A break of this average is required to signal a short-term top. Last week’s gains resulted in a breach of 150.78, the Oct 26 high. This confirmed a resumption of the uptrend and has opened 152.20, a Fibonacci projection. Moving average studies are in a bull-mode position, reflecting the market's positive sentiment.

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