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Remains Below The 20-Day EMA

USDJPY TECHS
  • RES 4: 137.48 High Dec 20
  • RES 3: 136.38 76.4% retracement of the Dec 15 - 20 bear leg
  • RES 2: 135.18 20-day EMA
  • RES 1: 134.50 High Dec 28
  • PRICE: 132.59 @ 06:34 GMT Dec 30
  • SUP 1: 132.32/130.58 Low Dec 26 / 20 and the bear trigger
  • SUP 2: 130.41 Low Aug 2 and a key support
  • SUP 3: 129.51 Low Jun 2
  • SUP 4: 128.44 1.236 proj of the Oct 31 - Nov 15 - 21 price swing

USDJPY remains in a corrective cycle but has found resistance ahead of the 20-day EMA at 135.18. This average represents a key short-term hurdle where a break is required to signal scope for a stronger recovery. The trend outlook is bearish. The sharp sell-off on Dec 20 confirmed a resumption of the downtrend and maintains the bearish sequence of lower lows and lower highs. The bear trigger is 130.58, the Dec 20 low.

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