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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum

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Remains Under Pressure

  • RES 4: 107.22 100-dma
  • RES 3: 107.05 High Aug 13 and the bull trigger
  • RES 2: 106.68 High Aug 17
  • RES 1: 106.05 Intraday high
  • PRICE: 105.41 @ 16:53 BST Aug 18
  • SUP 1: 105.28 Intraday low
  • SUP 2: 105.08 1.0% 10-dma envelope
  • SUP 3: 104.86 76.4% retracement of the Jul 31 - Aug 13 rally
  • SUP 4: 104.19 Low Jul 31 and a major support

USDJPY remains under pressure, with the original Asia-Pac session sell-off extending well into US hours. This opens further the gap with 107.05, Aug 13 high as prices fell through key support at 105.30, Aug 6 low. This undermines the recent recovery and signals scope for a deeper pullback towards 104.19, Jul 31 low. Key resistance has been defined at 107.05 where a break is required to reinstate bullish confidence.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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