Support and Resistance Price Levels for the Yen Pairs

This article was originally published on Nadex.com.

The support and resistance levels for the AUDJPY, EURJPY, and GBPJPY are below.  The red lines indicate the potential resistance areas and the blue lines represent the potential support areas.  However, remember anytime a resistance level is broken, then it becomes a potential support area or if the support level is broken, then it can become a potential resistance area.  Additionally, with the markets closed on Thursday, the reopening could present with multiple gaps across the currencies.

AUDJPY

The AUDJPY four hour chart shows that price was initially making new highs but resistance formed and price moved down.  Although it has tested the support area, it has not mean able to sustain price action below the area.  Therefore, a test of resistance is typically needed.  If price does not break through the resistance area at 82.07, then more likely than not, price will resume testing the support areas at 81.66 and 81.47.

Levels for Yen Pairs AUDJPYEURJPY

The EURJPY four hour chart indicates that price is trapped with a support and resistance range.  The resistance is at 128.97 and the support is at 128.25.  If price manages to break through the resistance area at 128.97 then a test of the 129.94 area may be next.  However, if price is unable to break through the 128.97 area, then a new test of the 128.38 or 128.25 area may be upcoming.

Levels for Yen Pairs EURJPYGBPJPY

The GBPJPY four hour chart indicates that price tested the support area at 143.97 and has moved up.  A new support area has potentially formed at 144.32.  This support area may send price up to test the 145.07 or the 146.26 resistance areas.  If price cannot break through either of these resistance areas, then price may return to the 144.32 or 143.97 area.  A test of the 146.26 is likely as that would mark the 50% retracement of the big red bar in the center of the chart, as well.

Levels for Yen Pairs GBPJPY

 

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