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USDJPY TECHS: Northbound

USDJPY TECHS
  • RES 4: 153.52 2.236 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 3: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 2: 151.95 High Oct 21 and a major resistance
  • RES 1: 151.72 High Oct 31
  • PRICE: 151.28 @ 06:18 GMT Nov 1
  • SUP 1: 149.66 20-day EMA
  • SUP 2: 148.81/148.17 Low Oct 30 / 50-day EMA
  • SUP 3: 147.43 Low Oct 3 and key support
  • SUP 4: 146.44 Low Sep 12

USDJPY traded sharply higher Tuesday and bullish conditions remain intact. The pair has cleared last week’s 150.78 high (Oct 26). This confirms a resumption of the uptrend and paves the way for a climb towards 152.20 next, a Fibonacci projection.Moving average studies are in a bull-mode position and this reflects the market's positive sentiment. On the downside, firm support lies at the 50-day EMA, at 148.17, is firm support.

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