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USDJPY TECHS: Fresh Cycle Low

USDJPY TECHS
USForeign Exchange Technical AnalysisGlobalAPACJapanBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 148.01 50-day EMA  
  • RES 3: 147.21 High Sep 3  
  • RES 2: 144.30/145.57 20-day EMA / High Sep 4    
  • RES 1: 141.87 High Sep 13     
  • PRICE: 139.97 @ 10:33 BST Sep 16
  • SUP 1: 139.58 Intraday low    
  • SUP 2: 139.00 1.382 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 3: 138.30 1.50 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 4: 138.07 Low Jul 28 2023  

USDJPY bears remain in the driver’s seat and the pair has again traded to a fresh cycle low, today. The move down last week resulted in a break of key support and the bear trigger at 141.70, the Aug 5 low. This confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. 140.00 has been breached and sights are on 139.00 next, a Fibonacci projection. Firm resistance is at 144.30, 20-day EMA.

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  • RES 4: 148.01 50-day EMA  
  • RES 3: 147.21 High Sep 3  
  • RES 2: 144.30/145.57 20-day EMA / High Sep 4    
  • RES 1: 141.87 High Sep 13     
  • PRICE: 139.97 @ 10:33 BST Sep 16
  • SUP 1: 139.58 Intraday low    
  • SUP 2: 139.00 1.382 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 3: 138.30 1.50 proj of the Aug 15 - 26 - Sep 3 price swing
  • SUP 4: 138.07 Low Jul 28 2023  

USDJPY bears remain in the driver’s seat and the pair has again traded to a fresh cycle low, today. The move down last week resulted in a break of key support and the bear trigger at 141.70, the Aug 5 low. This confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. 140.00 has been breached and sights are on 139.00 next, a Fibonacci projection. Firm resistance is at 144.30, 20-day EMA.