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USDJPY TECHS: Bears Remain In The Driver’s Seat

USDJPY TECHS
  • RES 4: 149.39 High Aug 15 and a reversal trigger   
  • RES 3: 149.08 50-day EMA 
  • RES 2: 145.54/147.21 20-day EMA / High Sep 2    
  • RES 1: 144.23 High Sep 5     
  • PRICE: 143.08 @ 06:50 BST Sep 10
  • SUP 1: 141.70 Low Aug 5 and the bear trigger     
  • SUP 2: 140.82 Low Jan 2
  • SUP 3: 140.25 Low Dec 28 ‘23 and a key support
  • SUP 4: 138.07 Low Dec 28   

USDJPY bears remain in the driver’s seat and the pair is trading closer to its recent lows. Sights are on key support at 141.70, the Aug 5 low. Clearance of this level would confirm a resumption of the downtrend and open 140.82, the Jan 2 low. On the upside, a firm resistance is seen around the 20-day EMA, at 145.54 today. A clear break of this average would signal scope for a stronger correction.

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