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Focus Is On Last Week's High

DOLLAR-YEN TECHS
  • RES 4: 108.16 High Jul 1
  • RES 3: 107.53/57 High Jul 20 / 2.0% Upper Bollinger Band
  • RES 2: 107.22 100-dma
  • RES 1: 107.05 High Aug 13 and the intraday bull trigger
  • PRICE: 106.61 @ 05:58 BST Aug 17
  • SUP 1: 106.30 20-day EMA
  • SUP 2: 105.92 Low Aug 11
  • SUP 3: 105.30 Low Aug 6 and key support
  • SUP 4: 104.19 Low Jul 31 and a major support

USDJPY maintains a bullish structure despite the pullback off last week's high of 107.05. This level marks the initial trigger for a resumption of gains where a break would open the 100-dma at 107.22. A close above this average would reinforce bullish conditions and open 107.53, Jul 20 high and beyond. A strong sell-off would instead expose support at 105.30, Aug 6 low that also represents a key support handle.

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