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Bears Remains In The Driver’s Seat

USDJPY TECHS
  • RES 4: 148.51 High Nov 30
  • RES 3: 148.13 20-day EMA
  • RES 2: 147.32 High Dec 8
  • RES 1: 146.23 Low Dec 4
  • PRICE: 144.63 @ 16:23 GMT Dec 8
  • SUP 1: 141.71 Low Dec 7
  • SUP 2: 140.71 76.4% of the Jul 14 - Nov 13 bull run
  • SUP 3: 139.11 1.764 proj of the Nov 13 - 21 - 22 price swing
  • SUP 4: 142.41 Low Aug 8

USDJPY maintains a softer tone and the pair traded sharply lower Thursday. The latest sell-off highlights a clear break of the trendline drawn from the Mar 24 low. This strengthens a bearish threat and signals scope for a continuation lower with sights on 140.71 next, a Fibonacci retracement point. The pair is - for now - trading above this week’s low of 141.71. Short-term gains are considered corrective. Initial firm resistance is at 146.23, Dec 4 low.

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

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