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Price Signal Summary - USDJPY Approaches The Psychological 150.00 Handle

OUTLOOK
  • In FX, EURUSD has breached the 20-day EMA. Attention on key resistance at 0.9910 - the top of the bear channel drawn from the Feb 10 high. A clear break of this hurdle would highlight a channel breakout and a stronger reversal. For now, gains are considered corrective. Key short-term support is at 0.9633, the Oct 13 low.
  • GBPUSD is holding on to the bulk of its recent gains and attention is on 1.1495, the Oct 5 high and bull trigger. The pair has traded above the 20-day EMA and this has improved short-term conditions for bulls. A break of 1.1495 would strengthen a bullish condition. Key short-term support is unchanged at 1.0924, the Oct 12 low.
  • USDJPY maintains a bullish tone and the path of least resistance remains up. The focus is on 149.83, 3.50 projection of the Aug 2 - 8 - 11 price swing and the 150.00 psychological handle.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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