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Fresh Cycle High

USDJPY TECHS
  • RES 4: 118.60/66 High Jan 3 ‘17 / Dec 15 ‘16 and key resistance
  • RES 3: 118.32 2.618 proj of the Feb 24 - Mar 3 - 4 price swing
  • RES 2: 118.19 High Jan 4 2017
  • RES 1: 117.88 Intraday high
  • PRICE: 117.82 @ 06:56 GMT Mar 14
  • SUP 1: 117.28/116.35/ Intraday low / High Jan 4
  • SUP 2: 115.76 20-day EMA
  • SUP 3: 114.41 Low Feb 24
  • SUP 4: 114.16 Low Feb 02 and a bear trigger

USDJPY is firm and has traded to a fresh cycle high today as the pair extends its current bull run. Last week’s key technical development was a break of resistance at 116.34/35, the Feb 10 / Jan 4 highs. This confirmed a resumption of the broader uptrend that started early Jan 2021. Attention turns to highs dating back to Jan 2017. 118.19 is the next objective, the Jan 4 2017 high. On the downside, firm support is seen at 116.35.

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