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Resistance Remains Intact

USDJPY TECHS
  • RES 4: 155.22 High Jul 30
  • RES 3: 153.03 50-day EMA
  • RES 2: 150.89 High Aug 1
  • RES 1: 149.77 20-day EMA
  • PRICE: 145.85 @ 06:22 BST Aug 19
  • SUP 1: 144.29 Low Aug 7
  • SUP 2: 141.70/140.82 Low Aug 5 and the bear trigger / Low Jan 2
  • SUP 3: 140.25 Low Dec 28 ‘23 and a key support
  • SUP 4: 138.07 Low Dec 28

USDJPY has pulled back from last week’s high and price has remained below resistance at the 20-day EMA. The trend direction remains down and recent gains appear to have been a correction. A stronger reversal lower would refocus attention on key support at 141.70, the Aug 5 low. Clearance of this level would confirm a resumption of the bear trend. Resistance to watch is 149.77, the 20-day EMA.

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