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135.00 Beckons

USDJPY TECHS
  • RES 4: 136.04 1.382 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 135.15 High Jan 31 2002 and a key congestion area
  • RES 2: 135.00 Psychological round number
  • RES 1: 134.56 Intraday high
  • PRICE: 133.77 @ 06:42 BST Jun 9
  • SUP 1: 131.87 Low Jun 7
  • SUP 2: 130.43/129.76 Low Jun 6 / 20-day EMA
  • SUP 3: 127.09/36 50-day EMA / Low May 24 and key support
  • SUP 4: 125.09 Low Apr 14

USDJPY maintains its bullish theme and continues to climb. Gains this week have confirmed a resumption of the primary uptrend. The extension maintains the broader bullish price sequence of higher highs and higher lows and with moving average studies pointing north, indications are that the USD still has further to go, despite being in overbought territory. The focus is on the 135.00 handle. Initial firm support is seen at 129.76, the 20-day EMA.

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