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Trend Conditions Remain Bullish

USDJPY TECHS
  • RES 4: 111.71 High Mar 24 and a key resistance
  • RES 3: 111.30 High Mar 26, 2020
  • RES 2: 111.07 1.0% 10-dma envelope
  • RES 1: 110.97 High Mar 31 and the bull trigger
  • PRICE: 110.46 @ 06:23 BST Jun 22
  • SUP 1: 109.72 Low June 21
  • SUP 2: 109.24/19 50-day EMA / Low Jun 7
  • SUP 3: 108.56/34 Low May 25 / Low May 7 and key S/T support
  • SUP 4: 107.48 Low Apr 23 and the bear trigger

USDJPY traded higher last week but found resistance at 110.82, Jun 17 high and remains below this hurdle. The recent break of 110.33, Jun 4 high is a bullish development and confirmed a resumption of the uptrend since Apr 23. Attention is on key resistance at 110.97, the year high print on Mar 31 and 111.07, 1.0% 10-dma envelope. A break of the former would confirm a resumption of the uptrend. Initial key support is at 109.72, Jun 21 low.

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