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Fades Off S/T Trendline Resistance


Upside Speculation Continues


Fed Terminal Dips Below 5% On FOMC Minutes


Corrective Bounce Fades

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Approaching The Bull Trigger

  • RES 4: 118.07 2.236 proj of Apr 23 - Jul 2 - Aug 4 2021 price swing
  • RES 3: 117.08 2.00 proj of Apr 23 - Jul 2 - Aug 4 2021 price swing
  • RES 2: 116.34/35 High Feb 10 / High Jan 4 and the bull trigger
  • RES 1: 116.20 High Mar 10
  • PRICE: 116.12 @ 17:50 GMT Mar 10
  • SUP 1: 115.28 20-day EMA
  • SUP 2: 114.41 Low Feb 24
  • SUP 3: 114.16 Low Feb 02 and a bear trigger
  • SUP 4: 113.47 Low Jan 24 and a key support

USDJPY maintains this week’s firmer tone and has breached resistance at 115.87, the Feb 15 high. The USD has remained above the Feb 24 low of 114.41 and more importantly above its key support at 114.16, Feb 2 low. While the latter support holds, the trend condition remains bullish highlighted by a positive moving average set-up. Attention is on the 116.34/35 key resistance and bull trigger, the Feb 10 and Jan 4 high.

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