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Heading South

USDJPY TECHS
  • RES 4: 140.00 Round number resistance
  • RES 3: 137.79 20-day EMA
  • RES 2: 137.79 20-day EMA
  • RES 1: 134.54 Low Dec 14
  • PRICE: 132.34 @ 08:41 GMT Dec 20
  • SUP 1: 132.10 Intraday low
  • SUP 2: 131.74 Low Aug 11 and a key support
  • SUP 3: 131.08 1.00 proj of the Oct 31 - Nov 15 - 21 price swing
  • SUP 4: 130.41 Low Aug 2 and a key support

USDJPY has traded sharply lower today and in the process cleared key support and the bear trigger at 133.63, the Dec 2 low. This confirms a resumption of the current downtrend and paves the way for weakness towards 131.74, the Aug 11 low. Moving averages studies are in a bear-mode position and price remains below the 20-day EMA. This average is a key resistance - it intersects at 137.79.

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