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USDJPY TECHS
  • RES 4: 146.12 76.4% Oct-Jan Downleg
  • RES 3: 145.94 2.0% 10-dma envelope
  • RES 2: 145.66 1.50 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 1: 145.07 Intraday high
  • PRICE: 144.58 @ 15:44 BST Jun 30
  • SUP 1: 143.29 Low Jun 27
  • SUP 2: 141.94 Former bull channel top drawn from the Jan 16 high
  • SUP 3: 141.84/21 20-day EMA / Low Jun 20
  • SUP 4: 139.85 Low Jun 16

USDJPY maintains a bullish tone and traded higher early Friday. The pair has breached 144.40 - the 1.382 projection of the Jan 16 - Mar 8 - Mar 24 price swing and the break signals scope for 145.66, a Fibonacci projection and 145.94, resistance at the 2.0% 10-dma envelope. USDJPY is the most overbought (as per the 14-day RSI) since mid-October. Key S/T support is at 141.84 the 20-day EMA. A break would signal scope for a deeper correction.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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