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USDJPY TECHS
  • RES 4: 136.67 38.2% retracement of the Oct 21 - Jan 16 bear leg
  • RES 3: 136.38 3.0% Upper Bollinger Band
  • RES 2: 135.31 2.0% 10-dma envelope
  • RES 1: 135.03 High Feb 17
  • PRICE: 134.82 @ 08:55 GMT Feb 17
  • SUP 1: 129.81 Low Feb 10
  • SUP 2: 128.09/127.23 Low Feb 2 / Low Jan 16 and the bear trigger
  • SUP 3: 126.81 1.382 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 4: 126.36 Low May 24 and a key support

USDJPY topped the key short-term level marking the 50-day EMA on Tuesday. The break above 132.77 opened gains through 134.77, the Jan 6 high, firming the short-term outlook. Vol band resistance is layered between 135.31 and 136.38 ahead of Fib retracements at 136.67. Firm support to watch is at 128.09, the Feb 2 low. The bear trigger is at 127.23, the Jan 16 low - a break would resume the downtrend.

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

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