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  • RES 4: 118.07 2.236 proj of Apr 23 - Jul 2 - Aug 4 2021 price swing
  • RES 3: 117.08 2.00 proj of Apr 23 - Jul 2 - Aug 4 2021 price swing
  • RES 2: 115.68/116.35 High Jan 11 / High Jan 4 and the bull trigger
  • RES 1: 114.86 20-day EMA
  • PRICE: 114.09 @ 17:18 GMT Jan 14
  • SUP 1: 113.43 76.4% retracement of the Nov 30 - Jan 4 rally
  • SUP 3: 113.14 Low Dec 17
  • SUP 4: 113.03 2.0% 10-dma envelope
  • SUP 4: 112.53 Low Nov 30 and a key support

USDJPY continues to trade lower and Friday’s price action resulted in a clear breach of the 50-day EMA at 114.22. The break lower suggests scope for a deeper pullback ahead of the next firm support at 113.14, the Dec 17 low. Key support lies at 112.53, Nov 30 and if breached, would strengthen the case for bears. On the upside, the pair needs to trade back above 114.86, the 20-day EMA, to ease the current bearish pressure.