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USDJPY TECHS

Shows Below 50-Day EMA

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  • RES 4: 132.43 High Jul 1
  • RES 3: 131.77 61.8% retracement of the Jun - Aug sell-off
  • RES 2: 131.09 High Jul 13
  • RES 1: 130.80 1.0% 10-dma envelope
  • PRICE: 130.27 @ 17:26 BST Sep 3
  • SUP 1: 129.56 20-day EMA
  • SUP 2: 129.16 Low Aug 27
  • SUP 3: 128.60 Low Aug 24
  • SUP 4: 127.94 Low Aug 19 and the bear trigger

EURJPY continues to climb and has this week topped the 50-day EMA at 129.96. Furthermore, the cross has also breached former resistance at 130.56, Jul 29 high. The break of these resistance points strengthens the current bull theme and opens 130.80 next, 1.0% 10-dma envelope. Key support and the bear trigger has been defined at 127.94, Aug 19 low. Initial support lies at 129.56, the 20-day EMA.