USD/JPY tech levels 19 April
Good morning all, hope you’re all well?
Looks like we’re off to the races again in this pair. After finally blowing 98.50 it’s been a one way street. Not much tech wise out there. The H4 55 ma got smoked at 98.50 the H1 200 ma was taken out as well at 98.56. Look for these to come back into play should we sell of that far. We’ve got a short term trendline underpinning things on the downside. At current money that’s down at 98.30.
To the upside we’ve got fairly strong resistance at 99.48/50. No doubt as the morning progresses we’ll hear of options and sell orders coming in at 99.50. A break through there and the big ton has another bullseye on it.
Update: That didn’t take long. In addition to Mike’s option board earlier I’m hearing that the 99.50 option for the US cut is $1bn.
