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Trend Needle Continues To Point North

USDJPY TECHS
  • RES 4: 151.95 High Oct 21 and a major resistance
  • RES 3: 151.09 2.764 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 2: 150.40 2.618 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 1: 150.16 High Oct 3 and the bull trigger
  • PRICE: 149.92 @ 15:30 BST Oct 25
  • SUP 1: 149.28/147.43 20-day EMA / Low Oct 3 and key support
  • SUP 2: 146.44 Low Sep 12
  • SUP 3: 145.91 Low Sep 11
  • SUP 4: 144.45 Low Sep 1

USDJPY is unchanged and continues to trade inside a tight range. The trend condition is bullish and the pair is trading closer to its recent highs. Furthermore, moving average studies continue to highlight positive market sentiment. Attention is on the 150.00 handle and the recent 150.16 high (Oct 3). A clear break of 150.00 would reinforce bullish conditions and open 150.40, a Fibonacci projection. Key support to watch is 147.43, the Oct 3 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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