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Approaching The 2021 High

USDJPY TECHS
  • RES 4: 111.71 High Mar 24 and a key resistance
  • RES 3: 111.30 High Mar 26, 2020
  • RES 2: 111.19 1.0% 10-dma envelope
  • RES 1: 110.97 High Mar 31 and the bull trigger
  • PRICE: 110.80 @ 06:20 BST Jun 23
  • SUP 1: 109.72 Low June 21
  • SUP 2: 109.33/19 50-day EMA / Low Jun 7
  • SUP 3: 108.56/34 Low May 25 / Low May 7 and key S/T support
  • SUP 4: 107.48 Low Apr 23 and the bear trigger

USDJPY is firmer and has traded above last week's high print of 110.82 on Jun 17. The recent break of 110.33, Jun 4 high is a bullish development and confirmed a resumption of the uptrend that started Apr 23. An extension higher would again confirm a resumption of this trend and expose resistance at 110.97, this year's high print on Mar 31 and 111.19, 1.0% 10-dma envelope. Initial key support is at 109.72, Jun 21 low.

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