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Late Equity Roundup: Mildly Lower on Week


Remains Above The 50-Day EMA

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Recent Lows Still Intact

  • 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: 115.06 High Jan 18
  • PRICE: 114.14 @ 20:45 GMT Jan 20
  • SUP 1: 113.96 Low Jan 20
  • SUP 2: 113.49/43 Low Jan 14 / 76.4% of the Nov 30 - Jan 4 rally
  • SUP 3: 113.14 Low Dec 17
  • SUP 4: 112.55 2.0% 10-dma envelope

USDJPY is lower but remains above last week’s Jan 14 low of 113.49. The recent recovery from below the 50-day EMA is a bullish development and this is highlighted by a reversal signal on Jan 14 - a doji candle pattern. 113.49 marks a key short term support where a break is required to reinstate a bearish threat. Attention is on 115.68, Jan 11 high and the key resistance at 116.35 further out, the Jan 4 high and a bull trigger.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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