USDJPY TECHS: Recovery Extends

• RES 4: 155.89/156.75 High Nov 20 / 15 and the bull trigger
• RES 3: 154.84 76.4% retracement of the Nov 15 - Dec 3 pullback
• RES 2: 153.69 High Dec 13
• RES 1: 153.66 61.8% retracement of the Nov 15 - Dec 3 pullback   
• PRICE: 152.76 @ 16:32 GMT Dec 13 
• SUP 1: 150.90 Low Dec 10
• SUP 2: 149.37/148.65 Low Dec 06 / 03 and the bear trigger
• SUP 3: 148.17 50.0% retracement of the Sep 16 - Nov 15 bull leg
• SUP 4: 147.77 2.0% 10-dma envelope

USDJPY traded higher into the Friday close and is holding on to its latest gains. The pair has breached both the 20- and 50-day EMAs. This undermines the recent bearish theme and for now, signals scope for an extension higher. The next firm short-term resistance is at 153.66, a Fibonacci retracement. A reversal lower would signal the end of the latest bounce and refocus attention on the bear trigger at 148.65, the Dec 3 low.