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USDJPY TECHS: Clears The Bull Trigger

USDJPY TECHS
USForeign Exchange Technical AnalysisAPACJapanBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 160.00 Round number resistance   
  • RES 3: 159.45 High Jul 12
  • RES 2: 159.26 0.618 proj f the Sep 16 - Nov 15 - Dec 3 price swing  
  • RES 1: 157.93 Intraday high 
  • PRICE: 156.13 @ 16:53 GMT Dec 20 
  • SUP 1: 155.89/153.05 High Nov 20 / 20-day EMA
  • SUP 2: 151.96 50-day EMA 
  • SUP 3: 149.37 Low Dec 06 
  • SUP 4: 148.65 Low Dec 03 and the bear trigger

USDJPY bullish conditions remain intact and Thursday’s gains reinforce current conditions. The breach of 156.75, the Nov 15 high and bull trigger, strengthens bullish conditions. The move higher has confirmed a resumption of the uptrend and opens 159.45, the Jul 12 high. Initial firm support is 153.05, the 20-day EMA. A pullback would be considered corrective.     

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  • RES 4: 160.00 Round number resistance   
  • RES 3: 159.45 High Jul 12
  • RES 2: 159.26 0.618 proj f the Sep 16 - Nov 15 - Dec 3 price swing  
  • RES 1: 157.93 Intraday high 
  • PRICE: 156.13 @ 16:53 GMT Dec 20 
  • SUP 1: 155.89/153.05 High Nov 20 / 20-day EMA
  • SUP 2: 151.96 50-day EMA 
  • SUP 3: 149.37 Low Dec 06 
  • SUP 4: 148.65 Low Dec 03 and the bear trigger

USDJPY bullish conditions remain intact and Thursday’s gains reinforce current conditions. The breach of 156.75, the Nov 15 high and bull trigger, strengthens bullish conditions. The move higher has confirmed a resumption of the uptrend and opens 159.45, the Jul 12 high. Initial firm support is 153.05, the 20-day EMA. A pullback would be considered corrective.