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Narrows Gap With Bear Trigger

USDJPY TECHS
  • RES 4: 111.66 High Jul 2 and the bull trigger
  • RES 3: 110.82 High Jul 7
  • RES 2: 110.80 High Aug 11 and a key resistance
  • RES 1: 110.45/46 High Sep 8 / High Aug 13
  • PRICE: 109.41 @ 16:29 BST Sep 15
  • SUP 2: 109.11 Low Aug 16 / Sep 15
  • SUP 2: 108.72 Low Aug 04 and the bear trigger
  • SUP 3: 108.56 Low May 25
  • SUP 4: 108.47 76.4% of the Apr 23 - Jul 2 rally

USDJPY edged lower into the Wednesday close, reinforcing the bearish risks. Key support to watch is unchanged at 108.72, Aug 4 low where a break would strengthen a bearish case and open 108.47, a Fibonacci retracement. For bulls, the level to breaks remains 110.80, Aug 11 high. A break would instead open key resistance at 111.66, Jul 2 high. Initial resistance is at 110.45/46.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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