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- RES 4: 116.08 1.764 proj of Apr 23 - Jul 2 - Aug 4 price swing
- RES 3: 115.51 High Mar 10, 2017
- RES 2: 114.99 1.50 proj of Apr 23 - Jul 2 - Aug 4 price swing
- RES 1: 114.70/73 High Oct 20 / High Nov 6, 2017
- PRICE: 113.82 @ 16:23 BST Oct 27
- SUP 1: 113.01 20-day EMA
- SUP 2: 112.08 High Sep 30 and a recent breakout level
- SUP 3: 111.51 Low Oct 8
- SUP 4: 110.82/80 Low Oct 4 / High Aug 11
After breaking a short-term trendline earlier on Wednesday, USDJPY continued to trade heavily and briefly breached last week's lows of 113.41. The initial target of a sustained breached would be the 113 mark, a recent low which coincides with the 20-day EMA. However, more significant support would be found at 112.08, Sep 30 high and a recent breakout level. While there appears room for USDJPY to continue to consolidate at lower levels, trend conditions remain technically bullish and dips are considered corrective.