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AUDUSD TECHS: Bullish Trend Structure
- RES 4: 0.7208 61.8% of the Feb 25 ‘21 - Apr 9 ‘25 bear leg
- RES 3: 0.7186 2.236 proj of the Nov 21 - Dec 10 - 18 price swing
- RES 2: 0.7158 High Feb 2 2023
- RES 1: 0.7147 High Feb 12
- PRICE: 0.7077 @ 20:11 GMT Feb 20
- SUP 1: 0.7001 20-day EMA
- SUP 2: 0.6897 Low Feb 6 and key short-term support
- SUP 3: 0.6865 50-day EMA
- SUP 4: 0.6834 Low Jan 23
The trend set-up in AUDUSD remains bullish. Recent fresh cycle highs reinforce the bull theme and confirm a resumption of the uptrend. Note that moving average studies are in a bull-mode position and this set-up continues to highlight a dominant medium-term uptrend. Potential is seen for a climb towards 0.7186 next, a Fibonacci projection. On the downside, initial key support is unchanged at 0.6897, the Feb 6 low.
EURJPY TECHS: Bull Channel Support Intact
- RES 4: 187.71 3.000 proj of the Oct 17 - Oct 30 - Nov 5 price swing
- RES 3: 186.87 High Jan 23 and the bull trigger
- RES 2: 184.36/186.36 Low Feb 6 / High Feb 9
- RES 1: 183.09 20-day EMA
- PRICE: 182.78 @ 19:57 GMT Feb 20
- SUP 1: 181.74 Bull channel drawn from the Feb 28 ‘25 low
- SUP 2: 180.81/10 Low Feb 12 / Low Dec 5 ‘25
- SUP 3: 179.30 23.6% of the Feb 28 ‘25 - Jan 23 bull cycle
- SUP 4: 178.82 High Oct 30 ‘25
The latest move higher in EURJPY leaves a key support at 181.74, the base of a bull channel drawn from the Feb 28 ‘25 low, intact for now. A clear break of this channel base would highlight a stronger reversal and signal scope for a deeper retracement. Resistance to watch is 183.09, the 20-day EMA. Clearance of the average would instead signal a potential short-term reversal and the start of a fresh bull cycle inside the channel.
USDJPY TECHS: Pierces The 50-Day EMA
- RES 4: 159.45 High Jan 14 and the bull trigger
- RES 3: 157.76 High Feb 9
- RES 2: 156.29 High Feb 10
- RES 1: 155.64 High Feb 20
- PRICE: 154.94 @ 19:23 GMT Feb 22
- SUP 1: 152.11 Trendline support drawn from the Apr 22 ‘25 low
- SUP 2: 152.10 Low Jan 27 and bear trigger
- SUP 3: 151.54 Low Oct 29 ‘25
- SUP 4: 149.67 50.0% of the Apr 22 ‘25 - Jan 14 bull cycle
USDJPY is holding on to its recent gains and continues to trade above key short-term support at 152.10, the Jan 27 low and bear trigger. Clearance of this level is required to highlight a stronger reversal and resume the bear cycle that started Jan 14. The bounce has resulted in a break of the 20-day EMA and price has pierced the 50-day EMA, at 155.31. A continuation higher would highlight a stronger reversal and open 156.29, the Feb 10 high.
