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Trades Below Key Support

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: 148.41/149.71 High Oct 26 / 24
  • PRICE: 145.33 @ 06:31 BST Oct 27
  • SUP 1: 145.17 Low Oct 10
  • SUP 2: 143.79 50-day EMA
  • SUP 3: 143.53 Low Oct 5
  • SUP 4: 141.77 Low Sep 23

USDJPY is weaker and today’s move lower has resulted in a print below support at 145.56, Monday’s low. The breach of this support signals scope for an extension lower and this means that the pair remains in a short-term bearish corrective cycle. Momentum studies are trending down as a recent overbought condition unwinds. The focus is on the 50-day EMA at 143.79 - a key support. Key resistance is at the trend high of 151.95 (Oct 21).

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