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Free AccessSupport Appears Exposed
- RES 4: 133.11 High Apr 4 2002
- RES 3: 132.39 High Apr 15 2002
- RES 2: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
- RES 1: 130.05/131.35 High May 12 / High May 9 and the bull trigger
- PRICE: 127.80 @ 06:40 BST May 20
- SUP 1: 127.03 Low May 19
- SUP 2: 126.95 Low Apr 27 and a key support
- SUP 3: 125.09 Low Apr 14
- SUP 4: 124.01 Low Apr 11
USDJPY traded lower Thursday. 127.52, the May 12 low has been breached and this exposes the next key short-term support at 126.95, the Apr 27 low. The current pullback is likely a correction, and this is allowing a recent overbought trend reading to unwind. A break of 126.95 would signal scope for an extension towards the 50-day EMA, at 125.60. A reversal higher and a move above 130.05, May 9 high would be a bullish development.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.