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- RES 4: 111.71 High Mar 24, 2020
- RES 3: 111.66 High Jul 2 and the bull trigger
- RES 2: 110.70/82 High Jul 14/ High Jul 7
- RES 1: 110.59 High Jul 23
- PRICE: 109.24 @ 16:37 BST Aug 02
- SUP 1: 109.20/07 Low Aug 02 / Low Jul 19
- SUP 2: 108.56 Low May 25
- SUP 3: 108.47/34 76.4% of the Apr 23 - Jul 2 rally / Low May 7
- SUP 4: 108.08 Low Apr 27
USDJPY resumed the modest decline Monday, edging through the Friday lows to print down at 109.20. A bearish focus dominates. This follows the recent Jul 19 break of support at 109.48, Jul 29 low. The move lower marks a resumption of the reversal from early July and paves the way for an extension lower. Note that support at 109.19 has also been breached, Jun 7 low. Attention is on 108.47, a Fibonacci retracement. Firm short-term resistance is at 110.70, Jul 14 high, a break would alter the picture.