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Trading Closer To Its Recent Highs

USDJPY TECHS
  • RES 4: 152.43 0.764 proj of the Dec 28 - Jan 19 - Feb 1 price swing
  • RES 3: 151.91/95 High Nov 13 / High Oct 1 ‘22 and major resistance
  • RES 2: 151.43 High Nov 16
  • RES 1: 150.89 High Feb 13 and bull trigger
  • PRICE: 150.13 @ 16:27 GMT Mar 5
  • SUP 1: 149.21/148.44 Low Feb 29 / 50-day EMA
  • SUP 2: 147.63 Low Feb 7
  • SUP 3: 145.90 Low Feb 1 and key support
  • SUP 4: 145.59 Low Jan 16

The USDJPY trend condition remains bullish despite the fade off highs on Tuesday. Price is generally trading closer to recent highs. Support at 149.78, the 20-day EMA, has been pierced but remains intact. A clear break of this average would signal potential for a deeper retracement, potentially towards the 50-day EMA, at 148.44. Sights are on 151.91/95, the Nov 13 ‘23 high and the Oct 1 ‘22 high and major resistance. The bull trigger is 150.89, Feb 13 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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