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USDJPY TECHS: Bullish Outlook

USDJPY TECHS
USForeign Exchange Technical AnalysisAPACJapanBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 160.00 Round number resistance   
  • RES 3: 159.45 High Jul 12
  • RES 2: 159.26 0.618 proj of the Sep 16 - Nov 15 - Dec 3 price swing  
  • RES 1: 158.87 High Jan 10  
  • PRICE: 157.91 @ 20:30 GMT Jan 14
  • SUP 1: 156.78/02 20-day EMA / Low Dec 31
  • SUP 2: 154.71 50-day EMA  
  • SUP 3: 154.44 Low Dec 19
  • SUP 4: 153.16 Low Dec 17  

The trend condition in USDJPY remains bullish and the pair is holding on to the bulk of its recent gains. Last week’s fresh cycle high, reinforces the bullish theme. The recent breach of 156.75, the Nov 15 high, confirmed a resumption of the uptrend and opens 159.45, the Jul 12 ‘24 high. Moving average studies are in a bull-mode position highlighting a dominant uptrend. Initial firm support is 156.78, the 20-day EMA.

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  • RES 4: 160.00 Round number resistance   
  • RES 3: 159.45 High Jul 12
  • RES 2: 159.26 0.618 proj of the Sep 16 - Nov 15 - Dec 3 price swing  
  • RES 1: 158.87 High Jan 10  
  • PRICE: 157.91 @ 20:30 GMT Jan 14
  • SUP 1: 156.78/02 20-day EMA / Low Dec 31
  • SUP 2: 154.71 50-day EMA  
  • SUP 3: 154.44 Low Dec 19
  • SUP 4: 153.16 Low Dec 17  

The trend condition in USDJPY remains bullish and the pair is holding on to the bulk of its recent gains. Last week’s fresh cycle high, reinforces the bullish theme. The recent breach of 156.75, the Nov 15 high, confirmed a resumption of the uptrend and opens 159.45, the Jul 12 ‘24 high. Moving average studies are in a bull-mode position highlighting a dominant uptrend. Initial firm support is 156.78, the 20-day EMA.