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Trading Closer To Recent Highs

USDJPY TECHS
  • RES 4: 147.25 3.00 proj of the Aug 2 - 8 - 11 price swing
  • RES 3: 146.52 1.236 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 2: 146.03 2.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 144.99/145.28 High Sep 7 / 2.618 proj of Aug 2 - 8 - 11 swing
  • PRICE: 143.45 @ 20:02 BST Sep 15
  • SUP 1: 141.51 Low Sep 9
  • SUP 2: 140.48 20-day EMA
  • SUP 3: 139.87 Low Sep 2
  • SUP 4: 137.65 50-day EMA

USDJPY is trading closer to recent highs. The trend signal remains bullish with key short-term resistance at 144.99, Sep 7 high. A break would confirm a resumption of bullish activity. This would open 145.28 and 146.03, Fibonacci projections. On the downside, initial firm support has been defined at 141.51, the Sep 9 low. A strong support also lies at the 20-day EMA, at 140.48. A break of this 141.51-140.48 zone is required to highlight a short-term top.

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