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Fresh Cycle Highs Once Again

USDJPY TECHS
  • RES 4: 128.15 High May 17 2002
  • RES 3: 127.71 3.764 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • RES 2: 127.16 3.618 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • RES 1: 126.71 3.50 proj of the Dec 3 ‘21 - Jan 4 -24 price swing
  • PRICE: 126.65 @ 16:32 BST Apr 13
  • SUP 1: 124.77/123.47 Low Apr 12 / Low Apr 6 and 7
  • SUP 2: 122.24 20-day EMA
  • SUP 3: 121.28 Low Mar 31 and a bear trigger
  • SUP 4: 120.00 Round number support

USDJPY maintains its firmer tone and has this morning resumed its uptrend and traded to a fresh cycle high. The pair has also cleared the 126.00 handle. The break higher reinforces underlying bullish conditions and signals potential for a continuation of the uptrend near-term. The trend condition is overbought, however, this is not slowing the trend in any way at this stage. Key trend support has been defined at 121.28, the Mar 31 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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