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Sights Are On The August 1998 High

USDJPY TECHS
  • RES 4: 150.00 Psychological round number
  • RES 3: 149.22 3.382 proj of the Aug 2 - 8 - 11 price swing
  • RES 2: 148.42 1.382 proj of the May 24 - Jul 14 - Aug 2 price swing
  • RES 1: 147.66/77 High Aug 1998 and a key resistance / Intraday high
  • PRICE: 147.45 @ 06:28 BST Oct 14
  • SUP 1: 145.73/144.60 / Low Oct 12 / 20-day EMA
  • SUP 2: 143.53 Low Oct 5
  • SUP 3: 141.71 50-day EMA
  • SUP 4: 140.36 Low Sep 22, and key support

USDJPY maintains a bullish tone and traded higher Thursday. This week's climb has resulted in a break of 145.90, Sep 22 high, confirming a resumption of the primary uptrend. It also marks an extension of the price sequence of higher highs and higher lows. Attention is on 147.66, the Aug 1998 high. The level has been pierced, a clear break would open 148.42, a Fibonacci projection. Firm trend support lies at 144.60, the 20-day EMA.

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