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Bullish price Action

USDJPY TECHS
  • RES 4: 148.85 High Oct 31 2022
  • RES 3: 148.60 2.236 projection of the Jul 14 - 21 - 28 price swing
  • RES 2: 148.40 High Nov 4 2022
  • RES 1: 147.82 Intraday high
  • PRICE: 147.23 @ 06:42 BST Sep 06
  • SUP 1: 145.52/144.45 20-day EMA / Low Sep 1 and key support
  • SUP 2: 143.46 50-day EMA
  • SUP 3: 143.63 50.0% retracement of the Jul 14 - Aug 29 upleg
  • SUP 4: 141.52 Low Aug 7

The USDJPY trend condition remains bullish and the pair traded higher Tuesday. Price cleared resistance at 147.37, the Aug 29 high and the bull trigger. This confirms a resumption of the uptrend and opens 148.40 next, the Nov 4 2022 high. On the downside, last Friday’s low of 144.45 represents the key short-term support where a break would highlight a short-term top and signal scope for a deeper correction.

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