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Bulls Remain In The Driver’s Seat

USDJPY TECHS
  • RES 4: 151.43 High Nov 16
  • RES 3: 150.78 High Nov 17
  • RES 2: 149.75 High Nov 22
  • RES 1: 149.58 High Feb 09
  • PRICE: 149.35 @ 16:01 GMT Feb 9
  • SUP 1: 147.39/145.90 20-day EMA / Low Feb 1 and key support
  • SUP 2: 145.59 Low Jan 16
  • SUP 3: 144.36 Low Jan 12
  • SUP 4: 143.42 Low Jan 9

The USDJPY trend outlook remains bullish and the pair has appreciated this week. Key resistance at 148.80, the Jan 19 high, has been cleared. A continuation higher would confirm a clear break and a resumption of the uptrend that started late December. 149.16, 76.4% of the Nov 13 - Dec 28 bull leg, has also been breached. This opens 149.75, the Nov 22 high. Key short-term support is unchanged at 145.90, the Feb 1 low.

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