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Bullish Extension

USDJPY TECHS
  • RES 4: 144.00 Round number resistance
  • RES 3: 143.30 2.23 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 142.08 2.00 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 141.86 Intraday high
  • PRICE: 141.67 @ 09:57 BST Sep 6
  • SUP 1: 139.87 Low Sep 2
  • SUP 2: 138.86/05 Low Sep 1 / Low Aug 30
  • SUP 3: 137.53 20-day EMA
  • SUP 4: 135.79 50-day EMA

USDJPY continues to appreciate and extend today’s break above the 141.00 handle. This reinforces the current bullish theme following last week’s resumption of the primary trend - former resistance at 139.39 has been cleared, the Jul 14 high. Sights are on 142.08 next, a Fibonacci projection. Initial firm support is at 137.53, the 20-day EMA. Any pullback would be considered corrective ahead of further gains.

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