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EGB Supply - W/C February 13, 2023 (2/2)


EGB Supply - W/C February 13, 2023 (1/2)


W/C Feb 13, 2023

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Bullish price sequence intact:.....>

DOLLAR-YEN TECHS: Bullish price sequence intact:
*RES 4: 109.59/62 50.0% retracement of Apr 24-Jun 25 decline / High May 31
*RES 3: 109.02 Low May 13
*RES 2: 108.93/99 38.2% retracement of Apr 24-Jun 25 decline / High Jul 10
*RES 1: 108.57/61 100-hma / Intraday high
*PRICE: 108.36 @ 04.47 GMT July 12
*SUP 1: 107.86 Low Jul 11
*SUP 2: 107.53 Low Jul 3
*SUP 3: 107.36 Former channel resistance drawn off the Jul 3 low
*SUP 4: 107.10 Low Jun 26
USDJPY comfortably holds above 108.00, underpinned by improved US CPI headline
and core readings. The recent bear channel breakout highlighted a bullish price
sequence in the pair that for now remains in place. Today the former channel top
now support, intersects at 107.36 and represents a key level. The ability to
hold above this support would maintain the recent recovery with the trigger for
a confirmed resumption of gains at 108.99.

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