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Bulls Remain In The Driver’s Seat

USDJPY TECHS
  • RES 4: 154.00 3.382 proj of the Jul 14 - 21 - 28 price swing
  • RES 3: 153.52 2.236 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 2: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 1: 151.95 High Oct 21 2022 and a major resistance
  • PRICE: 150.85 @ 16:33 GMT Nov 14
  • SUP 1: 150.39 20-day EMA
  • SUP 2: 149.21/148.97 Low Nov 3 / 50-day EMA
  • SUP 3: 148.81 Low Oct 30
  • SUP 4: 147.43 Low Oct 3 and key support

The USDJPY trend outlook remains bullish despite the Tuesday pullback and Monday’s fresh cycle high again reinforces current conditions. Price has traded above 151.72, the Oct 31 high and a bull trigger, confirming a resumption of the uptrend. Note that moving average studies are still in a bull-mode position, reflecting the market's positive sentiment. Sights are on 151.95, the Oct 21 2022 high and a major resistance. Support is at 150.39, the 20-day EMA.

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