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Remains Above Tuesday’s Low

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: 150.78/51.95 High Nov 17 / High Oct 21 ‘22 - major resistance
  • RES 1: 149.96 20-day EMA
  • PRICE: 149.59 @ 16:21 GMT Nov 24
  • SUP 1: 147.15 Low Nov 21
  • SUP 2: 146.29 Trendline support drawn from the Mar 24 low
  • SUP 3: 144.45 Low Sep 1
  • SUP 4: 142.85 61.8% of the Jul 14 - Nov 13 bull run

USDJPY continues to trade above this week’s low. Tuesday’s price pattern - a dragonfly doji candle - highlights a potential reversal and the end of the recent corrective move down. If correct, it signals scope for a rally that would expose key resistance at 151.95, the Oct 21 2022 high. On the downside, a break of Tuesday's 147.15 low, would cancel the pattern and instead expose 146.29, trendline support drawn from the Mar 24 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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