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Remains Well Above Monday’s Low

USDJPY TECHS
  • RES 4: 153.39 3.764 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 3: 152.30 High Jul 1990
  • RES 2: 151.95 High Oct 21
  • RES 1: 149.71/150.44 High Oct 24 / 76.4% of the Oct 21 - 24 pullback
  • PRICE: 146.77 @ 15:46 BST Oct 26
  • SUP 1: 145.56 Low Oct 24
  • SUP 2: 145.17 Low Oct 10
  • SUP 3: 143.51 50-day EMA
  • SUP 4: 141.77 Low Sep 23

USDJPY managed to find support Monday at 145.56 and just below the 20-day EMA currently at 146.84. The volatile pullback is likely a correction and the primary uptrend remains intact. Moving average studies continue to highlight a positive trend cycle. Attention is on 150.00. A break of this level would reinforce the bullish theme and signal scope for a climb towards the 151.95, the bull trigger and last week’s high (Oct 21). Key support is 145.56.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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