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Narrowing In On 150.00

USDJPY TECHS
  • RES 4: 150.45 3.618 proj of the Aug 2 - 8 - 11 price swing
  • RES 3: 150.00 Psychological round number
  • RES 2: 149.83 3.50 proj of the Aug 2 - 8 - 11 price swing
  • RES 1: 149.79 High Oct 19
  • PRICE: 149.73 @ 16:00 BST Oct 19
  • SUP 1: 148.19/147.06 Low Oct 18 / 14
  • SUP 2: 145.74 20-day EMA
  • SUP 3: 144.72/143.53 Low Oct 7 / 5
  • SUP 4: 142.53 50-day EMA

USDJPY is holding on to this week’s gains and the uptrend remains intact. Last week's gains resulted in a break of 145.90, the Sep 22 high, confirming a resumption of the primary uptrend. Note too that 147.66, the Aug 1998 high, has been cleared, reinforcing bullish conditions. This has opened 149.83, a Fibonacci projection, ahead of the psychological 150.00 handle. Firm trend support lies at 145.37.

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