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Bullish Extension

USDJPY TECHS
  • RES 4: 150.00 Psychological round number
  • RES 3: 149.22 3.382 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 148.42 1.382 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 1: 147.66/77 High Aug 1998 and a key resistance / Intraday high
  • PRICE: 147.18 @ 14:51 BST Oct 13
  • SUP 1: 145.17/144.33 / Low Oct 10 / 20-day EMA
  • SUP 2: 143.53 Low Oct 5
  • SUP 3: 141.49 50-day EMA
  • SUP 4: 140.36 Low Sep 22, and key support

USDJPY maintains a bullish tone and has traded higher again today. This week's climb has resulted in the break of 145.90, Sep 22 high. This confirms a resumption of the primary uptrend and marks an extension of the price sequence of higher highs and higher lows. Attention turns to 147.66 next, the Aug 1998 high. It has been pierced, a clear break would open 148.42, a Fibonacci projection. Firm trend support lies at 144.33, the 20-day EMA.

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