USDJPY TECHS: Remains Below The 50-Day EMA
- RES 4: 154.80 High Dec 12 ‘24 and a key resistance
- RES 3: 152.70 50.0% retracement of the Jan 10 - Mar 11 bear leg
- RES 2: 151.17/30 50-day EMA / High Mar 3
- RES 1: 150.15 High Mar 19
- PRICE: 148.94 @ 15:47 GMT Mar 20
- SUP 1: 147.42/146.54 Low Mar 13 / 11 and the bear trigger
- SUP 2: 146.91 1.0% 10-dma envelope
- SUP 3: 145.00 Round number support
- SUP 4: 144.13 76.4% retracement of the 16 ‘24 - Jan 10 bull leg
USDJPY remains below the Wednesday high. The primary trend condition is bearish and the pullback is an early bearish signal suggesting the recent correction is over. Key resistance to watch is 151.17, the 50-day EMA. A continuation lower would refocus attention on key support and the bear trigger at 146.54, the Mar 11 low. Clearance of this level would confirm a resumption of the downtrend.
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