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Moving Average Studies Highlight An Uptrend

USDJPY TECHS
  • RES 4: 148.40 High Nov 4 2022
  • RES 3: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
  • RES 2: 146.93 High Nov 8 2022
  • RES 1: 146.56 High Aug 17
  • PRICE: 145.97 @ 06:34 BST Aug 22
  • SUP 1: 144.93/143.89 Low Aug 18 / High Aug 3
  • SUP 2: 143.99 20- and EMA
  • SUP 3: 142.20 50-day EMA
  • SUP 4: 141.52 Low Aug 7

The uptrend in USDJPY remains intact and short-term pullbacks are considered corrective. Last week’s gains resulted in a move above 145.07, the Jun 30 high. This confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. MA studies are in a bull mode condition, highlighting an uptrend. The focus is on 147.49, a Fibonacci projection. Initial firm support is 143.99, the 20-day EMA.

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