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Probes Support

USDJPY TECHS
  • RES 4: 118.07 2.236 proj of Apr 23 - Jul 2 - Aug 4 2021 price swing
  • RES 3: 117.08 2.00 proj of Apr 23 - Jul 2 - Aug 4 2021 price swing
  • RES 2: 115.68/116.35 High Jan 11 / High Jan 4 and the bull trigger
  • RES 1: 114.51/115.06 20-day EMA / High Jan 18
  • PRICE: 113.87 @ 17:18 GMT Jan 25
  • SUP 1: 113.47/49 Low Jan 24/14
  • SUP 2: 113.43 76.4% of the Nov 30 - Jan 4 rally
  • SUP 3: 113.14 Low Dec 17
  • SUP 4: 112.08 2.0% 10-dma envelope

USDJPY has continued to pull back from its most recent high of 115.06 on Jan 18. The pair has tested key support at 113.49, Jan 14 low. The print below 113.49 Monday negates a recent bullish candle pattern - a doji on Jan 14. Further weakness would open 113.43, a Fibonacci retracement and 113.14, the Dec 17 low. Key near-term resistance is at 115.06, Jan 18 high. A break of this hurdle would be positive.

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