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Heading North

USDJPY TECHS
  • RES 4: 119.38 3.382 proj of the Feb 24 - Mar 3 - 4 price swing
  • RES 3: 119.18 3.236 proj of the Feb 24 - Mar 3 - 4 price swing
  • RES 2: 118.60/66 High Jan 3 ‘17 / Dec 15 ‘16 and key resistance
  • RES 1: 118.45 Intraday high
  • PRICE: 118.33 @ 06:46 GMT Mar 15
  • SUP 1: 117.28/116.35 Low Mar 14 / High Jan 4
  • SUP 2: 115.80 20-day EMA
  • SUP 3: 114.41 Low Feb 24
  • SUP 4: 114.16 Low Feb 02 and a bear trigger

USDJPY has traded higher once again today. A bullish theme remains intact following last week’s break of resistance at 116.34/35, the Feb 10 / Jan 4 highs and the impulsive rally that has followed. The break last week confirmed a resumption of the broader uptrend that started early Jan 2021. Attention is on the 118.60/66 key resistance zone. On the downside, initial support is seen at 117.28, Monday’s low.

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