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Watching Resistance At The 20-Day EMA

USDJPY TECHS
  • RES 4: 141.61 High Nov 23
  • RES 3: 140.19 50-day EMA
  • RES 2: 140.00 Round number resistance
  • RES 1: 137.88 /138.17 20-day EMA / High Dec 15
  • PRICE: 136.90 @ 17:01 GMT Dec 19
  • SUP 1: 134.54/133.63 Dec 14 low / 2 and the bear trigger
  • SUP 2: 132.56 Low Aug 15
  • SUP 3: 131.08 1.00 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 4: 130.41 Low Aug 2

USDJPY traded higher last Thursday and in the process, pierced resistance at 137.97, the Dec 13 high. The pair has also tested resistance at 137.88, the 20-day EMA. A clear break of this average, if seen, would signal scope for stronger recovery and highlight an extension of the corrective cycle. This would open 140.00 and 140.19, the 50-day EMA. On the downside, the bear trigger is unchanged, it lies at 133.63, the Dec 2 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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