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Pierces The December High

USDJPY TECHS
  • RES 4: 1.2599 High Jun 7
  • RES 3: 1.2558 High Jub 9, 2022
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2448 Intraday high
  • PRICE: 1.2416 @ 05:55 GMT Jan 23
  • SUP 1: 1.2313 Low Jan 19
  • SUP 2: 1.2197/2083 20-day EMA / Low Jan 9
  • SUP 3: 1.2058 50-day EMA
  • SUP 4: 1.1842 Low Jan 6 and the bear trigger

GBPUSD remains firm and has traded higher today and in the process, the pair has pierced 1.2446, the Dec 14 high. The move higher reinforces bullish conditions and a clear break of 1.2446 would confirm a resumption of the uptrend that started late September 2022. This would open 1.2506, a Fibonacci projection. On the downside, initial firm support is seen at 1.2197, the 20-day EMA.

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  • RES 4: 1.2599 High Jun 7
  • RES 3: 1.2558 High Jub 9, 2022
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2448 Intraday high
  • PRICE: 1.2416 @ 05:55 GMT Jan 23
  • SUP 1: 1.2313 Low Jan 19
  • SUP 2: 1.2197/2083 20-day EMA / Low Jan 9
  • SUP 3: 1.2058 50-day EMA
  • SUP 4: 1.1842 Low Jan 6 and the bear trigger

GBPUSD remains firm and has traded higher today and in the process, the pair has pierced 1.2446, the Dec 14 high. The move higher reinforces bullish conditions and a clear break of 1.2446 would confirm a resumption of the uptrend that started late September 2022. This would open 1.2506, a Fibonacci projection. On the downside, initial firm support is seen at 1.2197, the 20-day EMA.