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EURJPY TECHS

Finds Support Below The 50-Day EMA

USDJPY TECHS

Bullish Doji Candle

US

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  • RES 4: 0.7432/7471 High Nov 9 / High Nov 4
  • RES 3: 0.7371 High Nov 15
  • RES 2: 0.7271/7274 Former channel base / 20-day EMA
  • RES 1: 0.7198/7228 High Nov 26 / High Nov 24
  • PRICE: 0.7147 @ 16:14 GMT Dec 1
  • SUP 1: 0.7063 Low Nov 30
  • SUP 2: 0.7049 Low Nov 4, 2020
  • SUP 3: 0.7028 Low Nov 3 2020
  • SUP 4: 0.6991 Low Nov 2 2020

AUDUSD printed fresh YTD lows of 0.7063 on Tuesday. The outlook remains bearish and short-term gains are considered corrective. The recent break of the base of its bull channel drawn from the Aug 20 low reinforces the bearish theme. Furthermore, support at 0.7170, Sep 29 low has been cleared. A resumption of weakness would refocus attention on 0.7049 next, the Nov 4 2020 low. Initial resistance is 0.7198.