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Trend Needle Continues To Point North

USDJPY TECHS
  • RES 4: 153.52 2.236 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 3: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 2: 151.95 High Oct 21 and a major resistance
  • RES 1: 151.72 High Oct 31
  • PRICE: 150.46 @ 16:03 GMT Nov 2
  • SUP 1: 149.78 20-day EMA
  • SUP 2: 148.81/148.28 Low Oct 30 / 50-day EMA
  • SUP 3: 147.43 Low Oct 3 and key support
  • SUP 4: 146.44 Low Sep 12

USDJPY traded sharply higher Tuesday and despite fading off the high, bullish conditions remain intact. The latest pullback is likely a correction. The pair has cleared 150.78, the Oct 26 high. This confirms a resumption of the uptrend and paves the way for a climb towards 152.20 next, a Fibonacci projection. Moving average studies are in a bull-mode position, reflecting the market's positive sentiment. On the downside, firm support lies at the 50-day EMA, at 148.28.

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

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