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Trend Needle Points North

USDJPY TECHS
  • RES 4: 153.52 2.236 proj of the Jan 16 - Mar 8 - Mar 24 price swing
  • RES 3: 152.20 3.00 proj of the Jul 14 - 21 - 28 price swing
  • RES 2: 151.95 High Oct 21 2022 and a major resistance
  • RES 1: 151.72 High Oct 31 and the bull trigger
  • PRICE: 151.53 @ 16:33 GMT Nov 10
  • SUP 1: 149.21 Low Nov 3
  • SUP 2: 148.81/148.74 Low Oct 30 / 50-day EMA
  • SUP 3: 147.43 Low Oct 3 and key support
  • SUP 4: 146.44 Low Sep 12

The USDJPY trend outlook remains bullish and the pair is holding on to this week's gains. Key short-term support lies at the 50-day EMA - at 148.74. A break of this average is required to signal a short-term top. The recent breach of 150.78, the Oct 26 high, confirmed a resumption of the uptrend and has opened 152.20, a Fibonacci projection. Moving average studies are in a bull-mode position, reflecting the market's positive sentiment.

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

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