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Clears Last Week’s Highs

USDJPY TECHS
  • RES 4: 117.53 High Jan 9, 2017
  • RES 3: 116.87 High Jan 11, 2017
  • RES 2: 116.09 1.764 proj of Apr 23 - Jul 2 - Aug 4 price swing
  • RES 1: 115.51 High Mar 10, 2017
  • PRICE: 115.00 @ 16:41 GMT Nov 23
  • SUP 1: 113.59 Low Nov 19 and key near-term support
  • SUP 2: 112.93/73 50-day EMA / Low Nov 9
  • SUP 3: 112.08 High Sep 30 and a recent breakout level
  • SUP 4: 111.51 Low Oct 8

USDJPY remains in an uptrend and Tuesday's gains have confirmed a resumption of the uptrend - the pair has cleared last week's high of 114.99 on Nov 17. The break higher also negates a recent bearish engulfing candle and this too reinforces bullish conditions. The focus is on 115.51, the Mar 10, 2017 high next. On the downside, key short-term support has been defined 113.59, Nov 19 low. A break is required to signal a possible short-term top.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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