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USDJPY TECHS: Fresh Short-Term Cycle High

USDJPY TECHS
USForeign Exchange Technical AnalysisGlobalAPACJapanBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 157.86 High Jul 19   
  • RES 3: 156.67 1.764 proj of the Sep 16 - 27 - 30 price swing 
  • RES 2: 155.27 2.00 proj of the Sep 16 - 27 - 30 price swing  
  • RES 1: 153.88 Intraday high                                           
  • PRICE: 153.41 @ 06:54 GMT Oct 28
  • SUP 1: 151.46 Low Oct 25     
  • SUP 2: 149.26/148.10 20- and 50-day EMA values 
  • SUP 3: 145.92 Low Oct 4
  • SUP 4: 143.43/141.65 Low Oct 2 / Low Sep 30 

The trend condition in USDJPY remains bullish and the pair has traded to a fresh cycle high again, today. This once again confirms a resumption of the current uptrend. Price has breached 153.40, the 61.8% retracement of the downleg posted off the July 3rd high. The move higher sets the scene for an extension towards 155.27, a Fibonacci projection. Initial firm support is 148.10, the 50-day EMA.

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  • RES 4: 157.86 High Jul 19   
  • RES 3: 156.67 1.764 proj of the Sep 16 - 27 - 30 price swing 
  • RES 2: 155.27 2.00 proj of the Sep 16 - 27 - 30 price swing  
  • RES 1: 153.88 Intraday high                                           
  • PRICE: 153.41 @ 06:54 GMT Oct 28
  • SUP 1: 151.46 Low Oct 25     
  • SUP 2: 149.26/148.10 20- and 50-day EMA values 
  • SUP 3: 145.92 Low Oct 4
  • SUP 4: 143.43/141.65 Low Oct 2 / Low Sep 30 

The trend condition in USDJPY remains bullish and the pair has traded to a fresh cycle high again, today. This once again confirms a resumption of the current uptrend. Price has breached 153.40, the 61.8% retracement of the downleg posted off the July 3rd high. The move higher sets the scene for an extension towards 155.27, a Fibonacci projection. Initial firm support is 148.10, the 50-day EMA.