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Bulls Remain In The Driver’s Seat

USDJPY TECHS
  • RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 2: 155.00 Round number resistance
  • RES 1: 154.79 High Apr 16
  • PRICE: 154.27 @ 06:39 BST Apr 18
  • SUP 1: 152.98 Low Apr 15
  • SUP 2: 152.33/150.73 20- and 50-day EMA values
  • SUP 3: 149.03 Low Mar 19
  • SUP 4: 147.44 Low Mar 14

USDJPY bulls remain in the driver’s seat and the pair is trading just below its recent cycle high. The break higher last week confirmed a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. The trend is overbought, however, this is not - for now - a concern for bulls. Moving average studies are in a bull mode position too. Sights are on the 155.00 handle next. Support lies at 152.33, 20-day EMA.

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