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Testing The 150.00 Handle Once Again

USDJPY TECHS
  • RES 4: 151.95 High Oct 21 and a major resistance
  • RES 3: 151.09 2.764 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 2: 150.40 2.618 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 1: 150.16 High Oct 3 and the bull trigger
  • PRICE: 149.87 @ 16:07 BST Oct 23
  • SUP 1: 149.16/147.43 20-day EMA / Low Oct 3 and key support
  • SUP 2: 146.44 Low Sep 12
  • SUP 3: 145.91 Low Sep 11
  • SUP 4: 144.45 Low Sep 1

USDJPY continues to trade just below its recent trend highs and bulls remain in the driver’s seat. Moving average studies are in a bull mode set-up, highlighting positive market sentiment and attention is on the 150.00 handle and the recent 150.16 high (Oct 3). A clear break of 150.00 would reinforce bullish conditions and open 150.40, a Fibonacci projection. On the downside, a breach of 147.43, Oct 3 low, would mark an important bearish development.

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