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Bear Leg Accelerates Following Trendline Break

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 and key short-term resistance
  • RES 1: 147.50/148.51 High Dec 6 / High Nov 30
  • PRICE: 144.66 @ 10:18 GMT Dec 7
  • SUP 1: 144.45 Low Sep 1
  • SUP 2: 143.30 Low Aug 10
  • SUP 3: 142.85 61.8% of the Jul 14 - Nov 13 bull run
  • SUP 4: 142.41 Low Aug 8

USDJPY maintains a softer tone and the pair is trading sharply lower today. The latest sell-off highlights once again, an attempt to break support at the trendline drawn from Mar 24 low - the trendline intersects at 147.14 today. Today’s successful breach strengthens a bearish threat and sights are on 144.45, the Sep 1 low. Key short-term resistance to watch is 148.51, the Nov 30 high.

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