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Closing In On 150.00

USDJPY TECHS
  • RES 4: 151.49 1.618 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 3: 151.20 3.764 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 150.45 3.618 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 150.00 Psychological round number
  • PRICE: 149.94 @ 06:41 BST Oct 20
  • SUP 1: 148.19/147.06 Low Oct 18 / 14
  • SUP 2: 146.14 20-day EMA
  • SUP 3: 144.72/143.53 Low Oct 7 / 5
  • SUP 4: 142.82 50-day EMA

USDJPY continues to climb as the uptrend extends. Last week's gains resulted in a break of 145.90, the Sep 22 high, confirming a resumption of the primary uptrend and maintaining the broader bullish price sequence of higher highs and higher lows. The breach of 147.66, Aug 1998 high, has also reinforced the bullish theme. The focus is on the psychological 150.00 handle. Firm trend support lies at 146.14, the 20-day EMA.

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