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Bullish Extension

USDJPY TECHS

RES 4: 150.45 3.618 proj of the Aug 2 - 8 - 11 price swing
RES 3: 150.00 Psychological round number
RES 2: 149.22 3.382 proj of the Aug 2 - 8 - 11 price swing
RES 1: 148.86 High Oct 14
PRICE: 148.76 @ 18:26 BST Oct 14
SUP 1: 147.06 Low Oct 14
SUP 2: 145.73/144.60 / Low Oct 12 / 20-day EMA
SUP 3: 143.53 Low Oct 5
SUP 4: 141.71 50-day EMA

USDJPY maintains a bullish tone and traded higher Friday. Last week's climb resulted in a break of 145.90, the Sep 22 high, confirming a resumption of the primary uptrend. It also marks an extension of the price sequence of higher highs and higher lows. 147.66, the Aug 1998 high, has also been cleared. The break reinforces bullish conditions and opens 149.22, a Fibonacci projection. Firm trend support lies at 144.60, the 20-day EMA.

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