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Approaching Trendline Support

USDJPY TECHS
  • RES 4: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 3: 150.78/51.95 High Nov 17 / High Oct 21 ‘22 - major resistance
  • RES 2: 149.75 High Nov 22
  • RES 1: 149.09 50-day EMA
  • PRICE: 147.36 @ 16:25 GMT Nov 29
  • SUP 1: 146.57 Trendline support drawn from the Mar 24 low
  • SUP 2: 145.91 Low Sep 11
  • SUP 3: 144.45 Low Sep 1
  • SUP 4: 142.85 61.8% of the Jul 14 - Nov 13 bull run

USDJPY traded lower earlier. Price has breached support at 147.15, Nov 21 low. This cancels a recent bullish pattern and instead confirms a resumption of the bear cycle that started Nov 13. Attention is on support at 146.57, a trendline drawn from the Mar 24 low. The line remains intact - for now - however, a clear break would strengthen the bearish threat and open 145.91, Sep 11 low. Key short-term resistance is 149.75, the Nov 22 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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