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Continues To Climb

USDJPY TECHS
  • RES 4: 144.00 Round number resistance
  • RES 3: 143.30 2.23 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 142.08 2.00 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 140.97 Intraday high
  • PRICE: 140.88 @ 06:48 BST Sep 6
  • SUP 1: 138.86/05 Low Sep 1 / Low Aug 30
  • SUP 2: 137.53 20-day EMA
  • SUP 3: 135.79 50-day EMA
  • SUP 4: 134.65 Low Aug 18

The USDJPY trend needle still points north following strong gains last week and this week’s continuation higher. The climb reinforces current bullish conditions and has put prices well north of former resistance at 139.39, the Jul 14 high. Last week’s break higher also confirmed a resumption of the primary uptrend. Sights are on 142.08 next, a Fibonacci projection. Initial firm support is at 137.53, the 20-day EMA.

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