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Trend Signals Remain Bearish

USDJPY TECHS
  • RES 4: 147.32 High Dec 7
  • RES 3: 146.59 High Dec 11
  • RES 2: 145.97 High Jan 05 and short-term bull trigger
  • RES 1: 145.28 50-day EMA
  • PRICE: 144.35 @ 16:09 GMT Jan 09
  • SUP 1: 142.86 Low Jan 4
  • SUP 2: 141.86 Low Jan 3
  • SUP 3: 140.25 Low Dec 28 and the bear trigger
  • SUP 4: 139.11 2.236 proj of the Nov 13 - 21 - 22 price swing

The move lower in USDJPY from last Friday’s high means that resistance around the 50-day EMA - at 145.28 - remains intact for now. Trend signals remain bearish and the recent impulsive rally appears to be a correction. A continuation lower would refocus attention on 140.25, the Dec 28 low. On the upside, resistance to watch is 145.97, Friday’s high. A break of this level would be a bullish development.

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