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Bullish Trend Outlook

USDJPY TECHS
  • RES 4: 147.25 3.00 proj of the Aug 2 - 8 - 11 price swing
  • RES 3: 146.52 1.236 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 2: 146.03 2.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 144.99/145.28 High Sep 7 / 2.618 proj of Aug 2 - 8 - 11 swing
  • PRICE: 143.96 @ 05:55 BST Sep 21
  • SUP 1: 141.51 Low Sep 9
  • SUP 2: 141.43 20-day EMA
  • SUP 3: 139.87 Low Sep 2
  • SUP 4: 138.49 50-day EMA

USDJPY continues to consolidate and importantly for bulls, remains closer to its recent highs. Trend readings are bullish with key short-term resistance at 144.99, Sep 7 high. A break would confirm a resumption of the uptrend and open 145.28 and 146.03, Fibonacci projections. Initial firm support has been defined at 141.51, Sep 9 low. A strong support also lies at the 20-day EMA, at 141.43. A break of this zone would highlight a short-term top.

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  • RES 4: 147.25 3.00 proj of the Aug 2 - 8 - 11 price swing
  • RES 3: 146.52 1.236 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 2: 146.03 2.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 144.99/145.28 High Sep 7 / 2.618 proj of Aug 2 - 8 - 11 swing
  • PRICE: 143.96 @ 05:55 BST Sep 21
  • SUP 1: 141.51 Low Sep 9
  • SUP 2: 141.43 20-day EMA
  • SUP 3: 139.87 Low Sep 2
  • SUP 4: 138.49 50-day EMA

USDJPY continues to consolidate and importantly for bulls, remains closer to its recent highs. Trend readings are bullish with key short-term resistance at 144.99, Sep 7 high. A break would confirm a resumption of the uptrend and open 145.28 and 146.03, Fibonacci projections. Initial firm support has been defined at 141.51, Sep 9 low. A strong support also lies at the 20-day EMA, at 141.43. A break of this zone would highlight a short-term top.