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Pierces Support At The 20-Day EMA

USDJPY TECHS
  • RES 4: 137.38 High Mar 9
  • RES 3: 136.99 High Mar 10
  • RES 2: 135.96 76.4% retracement of the Mar 8 - 24 bear leg
  • RES 1: 135.13 High Apr 19
  • PRICE: 133.63 @ 06:39 BST Apr 26
  • SUP 1: 133.37 Low Apr 25
  • SUP 2: 132.02 Low Apr 13
  • SUP 3: 131.53 Low Feb 2
  • SUP 4: 130.64 Low Apr 5 and a key support

The USDJPY trend needle still points north and the latest pullback is considered corrective - for now. Recent gains resulted in a print above former resistance at 134.75, 61.8% of the Mar 8 - 24 bear leg. This strengthened the current bull cycle and signals scope for a continuation higher towards 135.96 next, the 76.4% retracement point. Support at the 20-day EMA, at 133.51, has been pierced. A clear break would instead expose 132.02, Apr 13 low.

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