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Trend Direction Remains Up

USDJPY TECHS
  • RES 4: 148.60 2.236 projection of the Jul 14 - 21 - 28 price swing
  • RES 3: 148.40 High Nov 4 2022
  • RES 2: 147.49 2.00 projection of the Jul 14 - 21 - 28 price swing
  • RES 1: 147.37 High Aug 29
  • PRICE: 146.23 @ 06:41 BST Aug 30
  • SUP 1: 145.67/144.88 Low Aug 29 / 20 EMA
  • SUP 2: 143.30 Low Aug 10
  • SUP 3: 142.99 50-day EMA
  • SUP 4: 141.52 Low Aug 7

The uptrend in USDJPY remains intact, despite Tuesday’s pullback into the close. Yesterday’s fresh cycle high reinforces bullish conditions. Attention is on 147.49, a Fibonacci projection and the next objective. A break would open 148.40, the Nov 4 2022 high. Note that moving average studies are in a bull mode condition, reflecting current positive market sentiment. Support to watch lies at 144.88, the 20-day EMA.

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