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Peels Away From Bull Trigger

USDJPY TECHS
  • RES 4: 111.71 High Mar 24, 2020
  • RES 3: 111.66 High Jul 2 and the bull trigger
  • RES 2: 110.82 High Jul 7
  • RES 1: 110.80 High Aug 11
  • PRICE: 109.70 @ 17:11 BST Aug 13
  • SUP 1: 108.72 Low Aug 04
  • SUP 2: 108.56 Low May 25
  • SUP 3: 108.47/34 76.4% of the Apr 23 - Jul 2 rally / Low May 7
  • SUP 4: 108.08 Low Apr 27

USDJPY added to recent gains mid-week, topping out at a new monthly high of 110.80 before fading. This keeps the outlook positive, with 110.82 the next upside level ahead of the 111.66 bull trigger. To the downside, attention is on 108.47, a Fibonacci retracement, which markets have narrowed in on with the Friday weakness.

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