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Trend Structure Remains Bearish

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 154.21 50-day EMA
  • RES 3: 151.10 20-day EMA
  • RES 2: 149.77 High Aug 2
  • RES 1: 147.90 High Aug 7
  • PRICE: 147.18 @ 06:36 BST Aug 12
  • SUP 1: 144.29 Low Aug 7
  • SUP 2: 141.70/140.82 Low Aug 5 / Low Jan 2
  • SUP 3: 140.25 Low Low Dec 28 ‘23 and a key support
  • SUP 4: 138.07 Low Dec 28

USDJPY remains bearish and the recent impulsive sell-off has strengthened the trend condition. The move down has paved the way for an extension towards the next key support at 140.25, Dec 28 ‘23 low. Note that the bear trend remains in an extreme oversold condition, and the latest recovery - a correction - is allowing this condition to unwind. Initial firm resistance is seen at 151.10, the 20-day EMA. The bear trigger is 141.70, the Aug 5 low.

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  • RES 4: 154.21 50-day EMA
  • RES 3: 151.10 20-day EMA
  • RES 2: 149.77 High Aug 2
  • RES 1: 147.90 High Aug 7
  • PRICE: 147.18 @ 06:36 BST Aug 12
  • SUP 1: 144.29 Low Aug 7
  • SUP 2: 141.70/140.82 Low Aug 5 / Low Jan 2
  • SUP 3: 140.25 Low Low Dec 28 ‘23 and a key support
  • SUP 4: 138.07 Low Dec 28

USDJPY remains bearish and the recent impulsive sell-off has strengthened the trend condition. The move down has paved the way for an extension towards the next key support at 140.25, Dec 28 ‘23 low. Note that the bear trend remains in an extreme oversold condition, and the latest recovery - a correction - is allowing this condition to unwind. Initial firm resistance is seen at 151.10, the 20-day EMA. The bear trigger is 141.70, the Aug 5 low.