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USDJPY TECHS: Key Support Remains Exposed

USDJPY TECHS
  • RES 4: 149.39 High Aug 15  
  • RES 3: 149.32 50-day EMA 39 
  • RES 2: 145.78/147.21 20-day EMA / High Sep 2    
  • RES 1: 144.23 High Sep 5     
  • PRICE: 142.91 @ 15:55 BST Sep 9
  • 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   

A bearish theme in USDJPY remains intact, despite Monday’s intraday gains. Last week’s move lower reinforces a bear theme and 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. A firm resistance is seen around the 20-day EMA, at 145.78 today. For bulls, a clear break of this average would signal scope for a stronger correction.     

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