Approaching The Bull Trigger

• RES 4: 146.52 1.236 proj of the May 24 - Jul 14 - Aug 2 price swing
• RES 3: 146.03 2.764 proj of the Aug 2 - 8 - 11 price swing
• RES 2: 145.90 High Sep 22 and the bull trigger
• RES 1: 145.30 Intraday high
• PRICE: 144.93 @ 05:55 BST Oct 3
• SUP 1: 142.95/141.77 20-day EMA / Low Sep 23
• SUP 2: 140.36 Low Sep 22 and key short-term support
• SUP 3: 140.03 50-day EMA
• SUP 4: 139.39 High Jul 14 and a former key resistance

USDJPY has traded higher today. The pair is holding on to the recovery from 140.36, the Sep 22 low and key short-term support. The primary uptrend remains intact and attention is on the bull trigger at 145.90, the Sep 22 high. A break would confirm a resumption of the bull cycle and open 146.03, a Fibonacci projection. A break of 140.36 is required to highlight a top and the potential for a deeper retracement.