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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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Outlook Remains Bearish

  • RES 4: 107.18 100-dma
  • RES 3: 107.05 High Aug 13 and the bull trigger
  • RES 2: 106.68 High Aug 17
  • RES 1: 106.05 High Aug 18
  • PRICE: 105.35 @ 10:36 BST Aug 19
  • SUP 1: 105.10 Intraday low
  • SUP 2: 105.08 1.0% 10-dma envelope
  • SUP 3: 104.86 76.4% retracement of the Jul 31 - Aug 13 rally
  • SUP 4: 104.19 Low Jul 31 and a major support

USDJPY remains vulnerable following the recent sell-off. Yesterday saw the pair trade below support at 105.30, Aug 6 low signalling scope for a deeper pullback. Furthermore, the move through 105.30 undermines the recent recovery and exposes the key support at 104.19, Jul 31 low. Key resistance has been defined at 107.05 where a break is required to reinstate bullish confidence. Initial resistance is at 106.05, Aug 18 high.

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