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USDJPY TECHS: Trading Above Support

USDJPY TECHS
  • RES 4: 160.17 High Apr 29 and the bull trigger         
  • RES 3: 158.12 76.4% retracement of the Apr 29 - May 3 sell-off
  • RES 2: 157.99 High May 1  
  • RES 1: 157.71 High May 29 and a key resistance
  • PRICE: 156.81 @ 16:44 BST Jun 13
  • SUP 1: 155.07 50-day EMA 
  • SUP 2: 154.65/55 Trendline drawn from the Dec 28 low / Low Jun 4
  • SUP 3: 151.86 Low May 3 and a pivot level
  • SUP 4: 150.81 Low Apr 5

USDJPY recovered well from the Wednesday low. The trend signal remains bullish and short-term weakness in the pair appears to be corrective. A key support zone highlighted by 155.07, the 50-day EMA, and 154.65, a trendline drawn from the Dec 28 low, remains in place for now. A clear break of this zone would highlight a bearish reversal. For bulls, a move above 157.71, the May 29 high, would resume a short-term uptrend.    

       

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  • RES 4: 160.17 High Apr 29 and the bull trigger         
  • RES 3: 158.12 76.4% retracement of the Apr 29 - May 3 sell-off
  • RES 2: 157.99 High May 1  
  • RES 1: 157.71 High May 29 and a key resistance
  • PRICE: 156.81 @ 16:44 BST Jun 13
  • SUP 1: 155.07 50-day EMA 
  • SUP 2: 154.65/55 Trendline drawn from the Dec 28 low / Low Jun 4
  • SUP 3: 151.86 Low May 3 and a pivot level
  • SUP 4: 150.81 Low Apr 5

USDJPY recovered well from the Wednesday low. The trend signal remains bullish and short-term weakness in the pair appears to be corrective. A key support zone highlighted by 155.07, the 50-day EMA, and 154.65, a trendline drawn from the Dec 28 low, remains in place for now. A clear break of this zone would highlight a bearish reversal. For bulls, a move above 157.71, the May 29 high, would resume a short-term uptrend.