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Tops 20-Day EMA

USDJPY TECHS
  • RES 4: 151.91/95 High Nov 13 / High Oct 1 ‘22 and major resistance
  • RES 3: 151.43 High Nov 16
  • RES 2: 150.89 High Feb 13 and bull trigger
  • RES 1: 149.10/150.08 High Mar 15 / 6
  • PRICE: 149.11 @ 16:09 GMT Mar 15
  • SUP 1: 146.49 Low Mar 08 / 11
  • SUP 2: 145.90 Low Feb 1 and key support
  • SUP 3: 145.57 50.0% retracement of the Dec 28 - Feb 13 bull cycle
  • SUP 4: 144.88 Low Jan 15

Recent gains in USDJPY have firmed, but remain corrective at these levels. A bear threat remains present following the recent sharp sell-off. The breach of support at the 50-day EMA strengthens a bearish theme. A resumption of weakness would signal scope for a move towards 145.90, Feb 1 low and a key support. The pair, however, traded higher Friday to breach 148.82, 20-day EMA. A clear break and close above this average would open 150.08, the Mar 6 high.

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