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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: 149.29 High Oct 18
  • PRICE: 149.11 @ 15:24 BST Oct 18
  • SUP 1: 147.06 Low Oct 14
  • SUP 2: 145.73/145.37 / Low Oct 12 / 20-day EMA
  • SUP 3: 143.53 Low Oct 5
  • SUP 4: 142.26 50-day EMA

USDJPY maintains a bullish tone and the pair continues to climb. Last week's gains resulted in a break of 145.90, the Sep 22 high, confirming a resumption of the primary uptrend. It also marked an extension of the price sequence of higher highs and higher lows. Note too that 147.66, the Aug 1998 high, has been cleared. The break reinforces bullish conditions and opens 149.83, a Fibonacci projection, ahead of 150.00 Firm trend support lies at 145.37.

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