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Trades Above 107.00

USDJPY TECHS
  • RES 4: 108.16 High Jul 1, 2020
  • RES 3: 107.79 High Jul 7, 2020
  • RES 2: 107.53 High Jul 20, 2020
  • RES 1: 107.15 High Mar 3 / 50.0% of the Mar 2020 - Jan downleg
  • PRICE: 106.93 @ 16:49 GMT Mar 3
  • SUP 1: 106.68 Low Mar 2 and 3
  • SUP 2: 106.22 High Feb 17 and recent breakout level
  • SUP 3: 105.85 Low Feb 25/26
  • SUP 4: 105.73 20-day EMA

The USDJPY outlook remains bullish with the pair holding onto recent gains and has traded above 107.00. Last week's break of 106.22, Feb 17 high, confirmed a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Bulls have not looked back with price also holding above trendline support drawn off the Jan 1 low. The focus is on 107.53 next, Jul 20, 2020 high. Support lies at 106.68, Mar 2/3 low.

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