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Still Defying Gravity

USDJPY TECHS
  • RES 4: 111.71 High Mar 24
  • RES 3: 111.30 High Mar 26, 2020
  • RES 2: 110.63 0.764 proj of Mar - Apr 2020 rally from Jan 6 low
  • RES 1: 110.00 Round number resistance
  • PRICE: 109.96 @ 06:27 GMT Mar 30
  • SUP 1: 109.13 Low Mar 26
  • SUP 2: 108.46/41 20-day EMA / Low Mar 23 and key support
  • SUP 3: 107.82 Low Mar 5
  • SUP 4: 107.01 50-day EMA

USDJPY continues to push higher with the bull trend firmly intact. The move last week above 109.36, Mar 15 high confirms a resumption of the uptrend and note that 109.56 has been breached, a key retracement - 76.4% of Mar 2020 - Jan downleg. Attention is on 110.00 and the 110.63 Fibonacci projection. Overbought conditions are still not impacting this trend and instead continues to reinforce current sentiment. 108.41 is the key support.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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