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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: 150.64 @ 06:48 GMT Nov 15
  • SUP 1: 150.16 Nov 14 low
  • SUP 2: 149.21/149.02 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 and yesterday’s sell-off is considered corrective. This week’s fresh cycle high, reinforces current conditions. The break of 151.72, the Oct 31 high and a bull trigger, confirms a resumption of the uptrend and MA 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 150.16, the Nov 14 low.

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