September 15, 2024 18:35 GMT
USDJPY TECHS: Southbound
USDJPY TECHS
USForeign Exchange Technical AnalysisGlobalAPACJapanBulletMarketsForeign Exchange BulletsRegionNorth America
- RES 4: 149.39 High Aug 15 and a reversal trigger
- RES 3: 148.30 50-day EMA
- RES 2: 144.67/147.21 20-day EMA / High Sep 2
- RES 1: 143.04 High Sep 12
- PRICE: 140.94 @ 19:51 BST Sep 13
- SUP 1: 140.25 Low Dec 28 ‘23 and a key support
- SUP 2: 139.87 1.236 proj of the Aug 15 - 26 - Sep 3 price swing
- SUP 3: 139.00 1.382 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 again traded to a fresh cycle low, Friday. The move down lastweek 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. Sights are on 140.25, Dec 28 ‘23 low. Resistance is at 144.67, 20-day EMA.
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