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Breaks Below 20-Day EMA

  • RES 4: 139.89 High Nov 30 2022
  • RES 3: 139.59 50.0% retracement of the Oct - Jan bear cycle
  • RES 2: 138.17 High Dec 15
  • RES 1: 136.63/137.91 High May 3 / High Mar 8 and key resistance
  • PRICE: 133.89 @ 16:43 BST May 4
  • SUP 1: 133.38 Low May 4
  • SUP 2: 133.84 50-day EMA values
  • SUP 3: 133.02 Low Apr 26 and a key near-term support
  • SUP 4: 132.02 Low Apr 13

USDJPY traded lower still Thursday, extending the pullback from Tuesday’s high of 137.77 high. Price has pierced support at the 20-day EMA which intersects at 134.43. The 50-day EMA lies at 133.84 - this has been pierced. A clear breach of this support zone would undermine the recent bullish theme and signal scope for a deeper pullback. Key resistance is unchanged at 137.91, the Mar 8 high. A break would be bullish.

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