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Eyeing 135.00

USDJPY TECHS
  • RES 4: 136.04 1.382 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 135.15 High Jan 31 2002 and a key congestion area
  • RES 2: 135.00 Psychological round number
  • RES 1: 134.56 High Jun 9
  • PRICE: 133.83 @ 06:38 BST Jun 10
  • SUP 1: 131.87 Low Jun 7
  • SUP 2: 130.43/130.20 Low Jun 6 / 20-day EMA
  • SUP 3: 127.65 50-day EMA
  • SUP 4: 126.36 Low May 24 and key support

USDJPY bulls have paused for breath. The outlook remains bullish though - a marginal new high Thursday means the pair has delivered higher highs for ten consecutive sessions. The extension maintains the broader bullish price sequence of higher highs and higher lows and with moving average studies pointing north, indications are that the USD has further to go. The focus is on the 135.00 handle. Initial firm support is seen at 130.20, the 20-day EMA.

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  • RES 4: 136.04 1.382 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 135.15 High Jan 31 2002 and a key congestion area
  • RES 2: 135.00 Psychological round number
  • RES 1: 134.56 High Jun 9
  • PRICE: 133.83 @ 06:38 BST Jun 10
  • SUP 1: 131.87 Low Jun 7
  • SUP 2: 130.43/130.20 Low Jun 6 / 20-day EMA
  • SUP 3: 127.65 50-day EMA
  • SUP 4: 126.36 Low May 24 and key support

USDJPY bulls have paused for breath. The outlook remains bullish though - a marginal new high Thursday means the pair has delivered higher highs for ten consecutive sessions. The extension maintains the broader bullish price sequence of higher highs and higher lows and with moving average studies pointing north, indications are that the USD has further to go. The focus is on the 135.00 handle. Initial firm support is seen at 130.20, the 20-day EMA.