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Clears Support At The 20-Day EMA

  • RES 4: 137.38 High Mar 9
  • RES 3: 136.99 High Mar 10
  • RES 2: 135.96 76.4% retracement of the Mar 8 - 24 bear leg
  • RES 1: 134.47/135.13 High Apr 25 / 19
  • PRICE: 133.20 @ 14:38 BST Apr 26
  • SUP 1: 133.09 Intraday low
  • SUP 2: 132.02 Low Apr 13
  • SUP 3: 131.53 Low Feb 2
  • SUP 4: 130.64 Low Apr 5 and a key support

USDJPY has traded lower today and in the process cleared support at the 20-day EMA which intersects at 133.51. The break lower suggests scope for a continuation and attention turns to a more important support at 132.02, the Apr 13 low. A break of this level would strengthen bearish conditions. On the upside, key short-term resistance is at 135.13, the Apr 19 high, where a break is required to reinstate the recent bullish theme.

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