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USDJPY TECHS: Uptrend Remains Intact

USDJPY TECHS
USForeign Exchange Technical AnalysisAPACJapanBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 159.45 High Jul 12  
  • RES 3: 159.26 0.618 proj of the Sep 16 - Nov 15 - Dec 3 price swing
  • RES 2: 158.08/87 High Jan 15 / 10 and the bull trigger 
  • RES 1: 156.82 50.0% retracement of the Jan 10 - 21 bear leg      
  • PRICE: 156.03 @ 06:54 GMT Jan 27
  • SUP 1: 155.15/154.97 50-day EMA / Trendline drawn from Sep 16 low
  • SUP 2: 154.44 Low Dec 19
  • SUP 3: 153.76 50.0% retracement of the Dec 3 - Jan 10 bull leg  
  • SUP 4: 153.16 Low Dec 17    

The primary trend condition in USDJPY is unchanged, it remains bullish and the latest pullback appears corrective. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. Support to watch is 155.15, the 50-day EMA (pierced), and 154.97, a trendline drawn from the Sep 16 ‘24 high. A clear breach of both levels would highlight a stronger reversal. Key resistance and the bull trigger is 158.87, the Jan 10 high.

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  • RES 4: 159.45 High Jul 12  
  • RES 3: 159.26 0.618 proj of the Sep 16 - Nov 15 - Dec 3 price swing
  • RES 2: 158.08/87 High Jan 15 / 10 and the bull trigger 
  • RES 1: 156.82 50.0% retracement of the Jan 10 - 21 bear leg      
  • PRICE: 156.03 @ 06:54 GMT Jan 27
  • SUP 1: 155.15/154.97 50-day EMA / Trendline drawn from Sep 16 low
  • SUP 2: 154.44 Low Dec 19
  • SUP 3: 153.76 50.0% retracement of the Dec 3 - Jan 10 bull leg  
  • SUP 4: 153.16 Low Dec 17    

The primary trend condition in USDJPY is unchanged, it remains bullish and the latest pullback appears corrective. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. Support to watch is 155.15, the 50-day EMA (pierced), and 154.97, a trendline drawn from the Sep 16 ‘24 high. A clear breach of both levels would highlight a stronger reversal. Key resistance and the bull trigger is 158.87, the Jan 10 high.