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USDJPY TECHS
  • RES 4: 161.50 1.618 proj of the May 3 - 14 - 16 price swing
  • RES 3: 160.92 1.50 proj of the May 3 - 14 - 16 price swing
  • RES 2: 160.17 High Apr 29 and the bull trigger
  • RES 1: 159.92 High Jun 24
  • PRICE: 159.78 @ 06:45 BST Jun 26
  • SUP 1: 157.75 20-day EMA
  • SUP 2: 156.13 50-day EMA
  • SUP 3: 155.73 /154.55 Trendline drawn from Dec 28 low / Low Jun 4
  • SUP 4: 153.60 Low May 16

The trend in USDJPY is unchanged, it remains bullish and the pair is holding on to its recent gains. Initial key support to watch is 157.75, the 20-day EMA. Sights are on 160.17, the Apr 29 high and the key resistance. A break of this hurdle would resume the primary uptrend. Note that moving average studies are in a bull mode position and this highlights a clear uptrend. Short-term pullbacks would be considered corrective.

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