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Bullish Price Structure

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Resumes Its Primary Uptrend

USDJPY TECHS
  • RES 4: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 130.43 High Apr 24 2002
  • RES 2: 130.00 Psychological round number
  • RES 1: 129.89 Intraday high
  • PRICE: 129.76 @ 05:39 BST Apr 28
  • SUP 1: 128.34/126.95 Intraday low / Low Apr 27 and a key support
  • SUP 2: 125.89 20-day EMA
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.01 Low Apr 11

USDJPY has recovered from Wednesday’s 126.95 low and in the process has cleared the recent trend high of 129.40 (Apr 20) and a chart point at 129.44, the 0.764 projection of the Feb 24 - Mar 28 - 31 price swing. The break confirms a resumption of the primary uptrend and highlights a bull flag breakout. Attention is on the psychological 130.00 where a break would strengthen bullish conditions. 126.95 represents a key short-term support.

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  • RES 4: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 3: 130.43 High Apr 24 2002
  • RES 2: 130.00 Psychological round number
  • RES 1: 129.89 Intraday high
  • PRICE: 129.76 @ 05:39 BST Apr 28
  • SUP 1: 128.34/126.95 Intraday low / Low Apr 27 and a key support
  • SUP 2: 125.89 20-day EMA
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.01 Low Apr 11

USDJPY has recovered from Wednesday’s 126.95 low and in the process has cleared the recent trend high of 129.40 (Apr 20) and a chart point at 129.44, the 0.764 projection of the Feb 24 - Mar 28 - 31 price swing. The break confirms a resumption of the primary uptrend and highlights a bull flag breakout. Attention is on the psychological 130.00 where a break would strengthen bullish conditions. 126.95 represents a key short-term support.