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Touches New 2021 High

USDJPY TECHS
  • RES 4: 111.71 High Mar 24 and a key resistance
  • RES 3: 111.30 High Mar 26, 2020
  • RES 2: 111.19 1.0% 10-dma envelope
  • RES 1: 111.10 High Mar 31 and the bull trigger
  • PRICE: 110.89 @ 17:09 BST Jun 23
  • SUP 1: 109.72 Low June 21
  • SUP 2: 109.33/19 50-day EMA / Low Jun 7
  • SUP 3: 108.56/34 Low May 25 / Low May 7 and key S/T support
  • SUP 4: 107.48 Low Apr 23 and the bear trigger

USDJPY is firmer and traded to new 2021 highs Wednesday, with a print above Y110.97, the previous bull trigger. This cements the uptrend posted since the recent break of 110.33, Jun 4 high is a bullish development. An extension higher would again confirm a resumption of this trend and exposes 111.19, 1.0% 10-dma envelope. Initial key support is at 109.72, Jun 21 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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