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Free AccessBull Rally Accelerates
- RES 4: 114.99 1.50 proj of Apr 23 - Jul 2 - Aug 4 price swing
- RES 3: 114.50 1.382 proj of Apr 23 - Jul 2 - Aug 4 price swing
- RES 2: 113.91 2.0% 10-dma envelope
- RES 1: 113.41/49 Trendline drawn from Dec 1975 high / Intraday high
- PRICE: 113.30 @ 06:32 BST Oct 12
- SUP 1: 112.08/111.51 Low Oct 11 / Low Oct 8
- SUP 2: 110.82/80 Low Oct 4 / High Aug 11
- SUP 3: 110.52 50-day EMA
- SUP 4: 109.76 Low Sep 23
USDJPY accelerated higher Monday following a resumption of its uptrend Friday. The pair has cleared former resistance at 112.08, Sep 30 high and yesterday's strong bullish session resulted in a test of 113.41, a multi-year trendline resistance drawn from the December 1975 high. A clear break of this hurdle would reinforce the current trend condition. On the downside, key support has been defined at 110.82, Oct 4 low.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.