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150.00 Remains Exposed

USDJPY TECHS
  • RES 4: 151.09 2.764 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 3: 150.40 2.618 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 2: 150.00 Psychological round number
  • RES 1: 149.71 High Oct 24 2022 and high Sep 27
  • PRICE: 149.32 @ 15:42 BST Sep 29
  • SUP 1: 147.82/147.32 20-day EMA / Low Sep 21
  • SUP 2: 146.44 Low Sep 12
  • SUP 3: 145.91 Low Sep 11
  • SUP 4: 145.85 50-day EMA

The USDJPY trend outlook is unchanged and remains bullish. Note that moving average studies are in a bull mode position, highlighting the market's positive sentiment. 149.71, the Oct 24 2022 high, has been tested and attention is on the psychological 150.00 handle. A break of this barrier would reinforce bullish conditions. On the downside, initial firm support lies at 147.82, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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