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Bulls Remain In The Driver’s Seat

USDJPY TECHS
  • RES 4: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.00 Round number resistance
  • RES 2: 154.56 1.618 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 1: 154.45 High Apr 15
  • PRICE: 154.26 @ 16:28 BST Apr 15
  • SUP 1: 152.59 Low Apr 12
  • SUP 2: 151.84/150.41 20- and 50-day EMA values
  • SUP 3: 149.03 Low Mar 19
  • SUP 4: 147.44 Low Mar 14

The USDJPY bull cycle remains in play and Monday’s extension reinforces current conditions. The break higher last week confirmed a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too. Yesterday’s break of 154.00 opens 154.56 next, a Fibonacci projection. Initial firm support lies at 151.84, the 20-day EMA.

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